Trouble ahead for keeping Valencia GP on the calender

The organisers of the European grand prix, which is being held at Valencia, are trying to break the race contract and bring it to an alternate host.
This is the claim of the Spanish newspaper El Periodico, reporting that regional president Francisco Camps has determined that the port city cannot afford the annual fee and organisation costs.
The city has hosted its last grand prix in June this year and still has a two years of contract. During the race, organisers asked f1 boss Bernie Ecclestone if Valencia’s contract can be broken, and the F1 boss simply refused.
The organisers are almost spending 30 million euros on annually, including an 18m fee to Ecclestone’s group and the cost of building and reconstructing the street circuit. But only 10m is covered by selling tickets, and also the number of crowd has been reduced in last few years, like, from a race day crowd of 112,000 in 2008 to just 75,000 this year.
Ecclestone reportedly said that an alternative promoter and venue would have to be found, and the newspaper claiming negotiations with the circuit in Alcaniz as well as Portimao in Portugal were held. At the same time, it has been reported that Camps and Valencia mayoress Rita Barbera have held meetings with Ferrari about hosting the site of an Abu Dhabi-style theme park in the city.

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