Valencia’s formula one foray is set to be officially folded, according to a media report.<\/p>\n
Last week, we reported that – according to a draft 2014 calendar that is quietly doing the rounds – the Spanish port city will not host a grand prix next year.<\/p>\n
That is despite earlier reports that Valencia and Barcelona have agreed to annually alternate a single Spanish grand prix from 2014 onwards.<\/p>\n
Tickets for next year’s Barcelona round have, however, already gone on sale, a May 11 date has been set, and El Mundo newspaper said the alternation contract was actually never signed.<\/p>\n
Now, Diario Sport newspaper reports that the only negotiations between Bernie Ecclestone and Valencia president Alberto Fabra are about how much Valencia should pay for breaking its existing race contract.<\/p>\n
Reportedly, F1’s chief executive wants Valencia to pay the full EUR 33 million termination penalty, but Fabra “is in talks to soften” that maximum hit.<\/p>\n
Diario Sport claims Valencia treasurer Juan Carlos Moragues Ferrer said recently that, amid the economic crisis, the government wanted to “meet our obligations without having to close schools or hospitals”.<\/p>\n
“In this context,” wrote correspondent Laura Lopez Albiac, “it would be very difficult to explain to taxpayers that more money is being allocated for an extraordinary item such as F1.”<\/p>\n
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