Ecclestone closes deal for Valencia GP

Formula One supremo Bernie Ecclestone confirmed on Friday that he has closed a deal for the Spanish city of Valencia to hold a Grand Prix on a brand new urban circuit next year

Ecclestone closes deal for Valencia GP

"The agreement was signed this morning along exactly the same lines as we announced last month," Ecclestone told Reuters. "The agreement is for seven years."

The deal was signed with the Valmor Sport group, an organisation which has been set up by former motorcycle Grand Prix rider Jorge Martinez Aspar and local businessman Fernando Roig, who is also president of football club Villarreal.

The original announcement caused a political storm in Spain because Ecclestone appeared to link the deal to the victory of the conservative presidential candidate Francisco Camps in regional elections.

Ecclestone subsequently denied that he had made any such link.

"I said I wouldn't formalise a contract until after the elections because I didn't know who I would be signing it with," he said.

Camps was re-elected as president of the Valencian regional government last month.

The race, to be called the European Grand Prix, is scheduled for late in the season on a newly designed circuit based around the city's America's Cup port.

The inclusion of the Valencia race will give Spain two Grands Prix next year. Barcelona's Circuit de Catalunya has a contract to hold the Spanish Grand Prix until 2016.

Valencia's willingness to pay an estimated 26 million euros ($34.94 million) to stage each race, and the boom in popularity of Formula One in Spain since the emergence of double world champion Fernando Alonso, are seen as major factors behind the decision.

shares
comments
Q & A with Super Aguri's Cuquerella

Previous article

Q & A with Super Aguri's Cuquerella

Next article

Kolles says Spyker in good shape

Kolles says Spyker in good shape
Load comments
The figures Red Bull and Mercedes can't afford to see again in F1 2021 Plus

The figures Red Bull and Mercedes can't afford to see again in F1 2021

OPINION: An interloper squad got amongst the title contenders during Formula 1’s street-circuit mini-break, where Red Bull left with the points lead in both championships. But, as the campaign heads back to purpose-built venues once again, how the drivers of the two top teams compare in one crucial area will be a major factor in deciding which squad stays in or retakes the top spot

Why Alfa's boss is ready for the task of securing a stronger F1 future Plus

Why Alfa's boss is ready for the task of securing a stronger F1 future

Two tenth places in recent races have lifted Alfa Romeo to the head of Formula 1's 'Class C' battle in 2021, but longer-term the Swiss-based squad has far loftier ambitions. With the new 2022 rules set to level out the playing field, team boss Frederic Vasseur has good reason to be optimistic, as he explained to Autosport in an exclusive interview

Formula 1
Jun 15, 2021
How Barnard’s revolutionary McLaren transformed F1 car construction Plus

How Barnard’s revolutionary McLaren transformed F1 car construction

The MP4/1 was pioneering by choice, but a McLaren by chance. STUART CODLING relates the tangled (carbonfibre) weaves which led to the creation of one of motor racing’s defining cars

Formula 1
Jun 15, 2021
Why the end is nigh for F1’s most dependable design tool Plus

Why the end is nigh for F1’s most dependable design tool

Windtunnel work forms the bedrock of aerodynamic development in Formula 1. But as PAT SYMONDS explains, advances in virtual research are signalling the end of these expensive and complicated relics

Formula 1
Jun 13, 2021
Why polarising Mosley’s legacy amounts to far more than tabloid rumour Plus

Why polarising Mosley’s legacy amounts to far more than tabloid rumour

The newspapers, naturally, lingered over Max Mosley’s tainted family history and niche sexual practices. But this is to trivialise the legacy of a big beast of motor racing politics. STUART CODLING weighs the life of a man whose work for safety on both road and track has saved hundreds of thousands of lives, but whose penchant for cruelty remains problematic and polarising

Formula 1
Jun 12, 2021
Why pragmatic Perez isn't fazed by no-nonsense Red Bull F1 culture Plus

Why pragmatic Perez isn't fazed by no-nonsense Red Bull F1 culture

Sergio Perez has spent most of his career labouring in Formula 1’s midfield, wondering whether he’d ever get another shot at the big time. Red Bull has handed him that chance and, although life at the top is tough, the Baku winner is doing all the right things to get on terms with Max Verstappen, says BEN ANDERSON

Formula 1
Jun 11, 2021
What the data tells us about the F1 2021 title fight Plus

What the data tells us about the F1 2021 title fight

Formula 1 has been tracking car performance using timing loops mounted every 200m around each circuit – to the extent that it was able to anticipate Ferrari’s 'surprise’ pole in Monaco. PAT SYMONDS explains what this means for this season and beyond

Formula 1
Jun 10, 2021
The weighty issue F1 needs to find a balance with Plus

The weighty issue F1 needs to find a balance with

OPINION: After consecutive street races with contrasting highlights, one theme stood out which has become a prevalent issue with modern Formula 1 cars. But is there a way to solve it or, at least, reach a happy middle ground to help all parties?

Formula 1
Jun 10, 2021