Future of the European GP in Valencia emerges to be in qualm following a government official said that large events are under “full and absolute review”. Jose Ciscar, vice-president of the Valencia government, has pointed to the economic crisis in Europe as the cause of the review and even though.
“The big events are under full and absolute review. They are not viable as they have been until now,” Ciscar said. “The big events have had an important value up until now but the circumstances force us to prioritise.”
Ciscar confirmed that he will contact Bernie Ecclestone to attempt to “renegotiate” the price of the race hosting fee. And he did not go as far as saying the event is under threat, but admitted that “nothing can be ruled out”.
“With contracts signed, we can’t be imprudent because the penalty could cost us more. We have to find balanced solutions,” he added.
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