Valencia street race for 2008
11/05/2007 |
 |
 |
Formula One plans a street race in Valencia, Spain, from next year that will be its second urban event after the Monaco Grand Prix.
The race would pass through the port zone where America's Cup sailing is taking place through July 7, regional government officials said. The plans for an annual race through 2014 depend on Francisco Camps being re-elected as president of the regional government on May 27.
``It will be one of the best circuits in the world,'' Bernie Ecclestone, Formula One's chief executive, told a news conference in Valencia today.
Ecclestone, 76, is seeking new eye-catching venues as he tries to increase the profile of the most-watched motor sport, which estimates it gets an average 150 million television viewers per race.
The Monaco Grand Prix is the only one of 18 Formula One events that is held on city streets. The sport's glitziest race, it boosts the region's economy by $70 million a year, according to the Monaco finance ministry.
Valencia is again betting sport will attract tourism after authorities spent $2.9 billion to get the city ready for the first edition of the America's Cup in Europe since 1851.
``This once again opens the doors of Valencia to the world,'' Valencia Mayoress Rita Barbera said.
Hosting Fees
Ecclestone's Formula One Management Ltd. will charge Valencia an annual fee of 26 million euros ($35.1 million) to host the race, sports daily Marca reported. Valencia's regional government paid America's Cup organizers 100 million euros to host the sailing competition.
It would be Spain's second Formula One race. The Spanish Grand Prix in Montmelo, near Barcelona, has been held since 1991 and the circuit has a contract with Ecclestone to continue through 2011.
Ecclestone added races in Shanghai and Bahrain in 2004 and cut one each of Germany and Italy's two races this season. He plans races in South Korea and India from 2010.
The Valencia race would be promoted by Fernando Roig, president of Villarreal soccer club, former motorcycling world champion Jorge Martinez Aspar and savings bank Bancaja, regional government officials said.
(Source: Bloomberg.com)
|
| Back |
|
|
|
|
 |
