Date: 9th January 2012 at 9:36am
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One of the dullest races in Formula One looks to have an uncertain future after the city’s government has stated that it wants to renegotiate its race fee.

The European Grand Prix in Valencia is one of the least popular tracks on the calendar after years of dull races were held on the city’s waterfront.

When Formula One first moved to the track, Formula One was hugely popular in Spain following the success of Fernando Alonso and Valancia had aimed to match the style and glamour of Monaco, but it never matched up to the hype.

The current contract runs until 2014, but vice-president of the Generalitat Valenciana Jose Ciscar wants to renegotiate a new deal with F1 boss Bernie Ecclestone [the current race fee is in the region of £20.6million per year], if an official approach is made to Ecclestone it will mean Valencia will follow in the footsteps of Korea who since the end of the 2011 season have also attempted to renegotiate their deal.

‘The big events [in the region] are under full and absolute review. They are not viable as they have been until now, The big events have had an important value up until now but the circumstances force us to prioritise.’ Ciscar told Autosport Magazine.

‘With contracts signed, we can’t be imprudent because the penalty could cost us more. We have to find balanced solutions,’

While Ciscar isn’t seeking to put an end to the current contract he has stated that ‘nothing can be ruled out’ and with Bernie already stating that the number of European events would decrease over the coming years the logical solution could see an end to the European Grand Prix in Valencia in the near future.

 

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