Valencia GP Future Not in Danger - Gracia

Spain currently has the most privileged position inside the Formula One championship, as it has become the only nation hosting two F1 races during the course of the same season. Italy and Germany had been in similar positions until now but, with the FIA's rotational system for the championship, they have each lost one race per season.

However, this might not be the case in the years to come, as Valencia is rumored to be on the verge of losing their spot in the championship. Although the Spanish motor racing chief Carlos Gracia insisted that Valencia will continue its contract with the International Automobile Federation (FIA) until the projected ending date of 2014, rumors are still circulating on the future of the venue.

The rumors started last year when, for the second consecutive time in Valencia, the F1 action saw the lowest amount of overtaking than any other event in 2009 (even less than on the difficult venue of Monaco). That led to an immense drop in attendance, as the grandstands were more than half empty in 2009.

“Last year they were not positive but now they have told me that they are fulfilling religiously all the years they have left on the contract,” Gracia was quoted as saying by AS newspaper.

Promoter Valmor's race contract with Bernie Ecclestone runs out at the end of the 2014 season, but several media in Spain have hinted they are “less than enthusiastic about the future of the event,” as reported by the GMM news agency. Official figures in terms of income have not been unveiled, but it is believed the F1 event in Valencia is not exactly a profitable one.

Valencia has been added to the F1 map of circuits in 2008, at the same time with the Singapore GP. While the latter has provided the fans with some glamorous and spectacular racing, Valencia has been heavily criticized even by Bernie Ecclestone for its lack of “atmosphere”. The street course is currently hosting the European Grand Prix.