SPAIN: MOTOR RACING - F1 boss Bernie Ecclestone announces provisional deal for European Grand Prix around

Deal to race Formula One cars in Valencia depends on successful election of the president. Valencia has reached an agreement to host a grand prix from 2008 on a circuit around the Spanish city's new America's Cup port, Formula One supremo Bernie Ecclestone announced on Thursday (May 10). Ecclestone said that the seven-year agreement with the Valencia regional government was conditional, however, on the present president Francisco Camps of the centre-right Partido Popular winning local elections to be held later this month. "It doesn't matter to me about big names or cities or whatever, it's people that I want to deal with and I feel are trustworthy...And I'm not going to sign this contract until after the election. Everything is in place, we have the contract here. The circuit's been approved," Ecclestone told a news conference. The race, to be called the European Grand Prix, is scheduled for late in the season on a newly designed circuit of between 4.1 and 4.3 km in length reminiscent of Monaco's with its harbour-side location. The circuit will be designed by German Hermann Tilke, architect of the sport's most modern tracks. "These things are beautiful, and it's associated with the Formula One Grand Prix. Although I am not president at present I am very grateful and I can assure you that in the next few days I will try with all my might to win these elections ," said Camps who is strong favourite to be re-elected to his post. Opposition groups in Valencia were critical, however, accusing Camps of trying to make political capital out of the announcement. Spanish media said that Ecclestone had insisted the race must be in the city rather than at the nearby Ricardo Tormo track in Cheste which hosts a round of the MotoGP world championship and is also used for Formula One testing. The inclusion of the Valencia race would give Spain two grands prix next year, an announcement at odds with Ecclestone's previous opinion that no European country should have more than one race. Imola, the Italian circuit that hosted the San Marino Grand Prix, was axed from the calendar this year while the Nuerburgring and Hockenheim are now alternating as hosts of the German Grand Prix. The European Grand Prix has been held at the Nuerburgring since 1999 as Germany's second race. Brands Hatch and Donington Park in Britain and Jerez in Spain have also hosted races with that name. Valencia's willingness to pay an estimated 26 million euros ($35.20 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. Alonso, speaking at Barcelona's Circuit de Catalunya ahead of Sunday's Spanish Grand Prix, welcomed the announcement. "We are very happy to race in any place. Now we have two grands prix in Spain, for me it will be okay, it will be nice to see how this sport develops in Spain," the McLaren driver told a news conference. "Four years ago, we didn't have even TV coverage and now we will have two grands prix. So that's very special." The Circuit de Catalunya has an agreement to stage the Spanish Grand Prix until 2011.

ITN Source | May 11, 2007

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