Valencia looking to renegotiate contract?
5th January 2012, 19:37 at 7:37 pm #130698
In a situation that has parallels with the Korean Grand Prix, the organisers of the European Grand Prix in Valencia appear to be trying to change the terms of their contract or scrap the race.
Here’s a (Google) translation of an article from El Pais:
After listing the battery of measures and cuts the Consell vice president, José Ciscar, referred to large events, in which the Valencian Government has meant in the past years. Cisco has claimed that due to the exceptional situation of crisis puts the Consell major events under review, but has defended its beneficial effects for the economy of Valencia.
“It is not possible in the way that we understand so far,” he said. In that sense, suggested that the Consell has sent a letter to Bernie Ecclestone, President and CEO of Formula One Management, with whom the Government has signed a contract for the Grand Prix in Valencia, to address a possible revision. Ciscar admitted that the Government is in a position of weakness because it can not cancel this contract unilaterally, because then it would cause more economic problems you have.
“I still have not read my contract and do not know the impact it would cancel next year’s Grand Prix,” he added. The annual fee paid by the Government to Ecclestone’s Formula 1 Valencia 21 million euros. Also, Channel 9 pays four million euros a year for the broadcasting rights. The construction cost of the street circuit around the 100 million euros.
If anyone who can speak Spanish can offer a better translation it’d be useful!5th January 2012, 19:40 at 7:40 pm #188417
Hopefully Bernie falls out with them and drops the race. Introduce a Portugese race instead.5th January 2012, 19:58 at 7:58 pm #188418
“It is not possible in the way we’ve understand it so far”, he said. In that sense, he pointed out that the Consell has sent a letter to Bernie Ecclestone, president and excecutive director of Formula One Management, with whom the Generalitat has a contract signed to celebrate the Grand Prix in Valencia, to aboard a possible revision. Ciscar admitted that the Generalitat is in a situation of weakness because it can not cancel this contract unilaterally, as this would cause even more economic problems.
They are looking for a possible revision of the contract because they can’t afford this one, considering all the problems they already have. They cannot cancel the contract either, as it’d bring them more problems than they have already.5th January 2012, 20:20 at 8:20 pm #188419
Keith, the title of the thread had me in panic…. for fear of them wanting to extend their contract!!!
If it did drop off the calender, I wouldnt loose any sleep over it.5th January 2012, 20:25 at 8:25 pm #188420
I speak Spanish, so here you have what I think is a better translation:
After listing the battery of measures and cuts, the vice president of the Consell, José Ciscar, has focused on the big events in which the Valencian Government has put a lot of effort in recent years. Ciscar has informed that due to the exceptional situation of crisis the Consell is putting under review these big events, although he has defended their beneficial effects for the Comunidad Valenciana’s economy.
“They [the big events] are not possible in the way we have understood them until now,” he said. In that sense, he confirmed that the Consell has sent a letter to Bernie Ecclestone, President and CEO of Formula One Management, with whom the Government has a signed contract for the celebration of the Grand Prix in Valencia, to address a possible revision. Ciscar admitted that the Government is in a position of weakness because it can not cancel this contract unilaterally, because it would cause more economic problems in addition to the current ones.
“I still have not read the contract and I don’t know which impact would have the cancellation of the next Grand Prix edition,” he added. The annual fee paid by the Government to Ecclestone in order to have Formula 1 in Valencia equals 21 million euros. Also, Canal 9 [the regional channel that broadcasts F1 in Valencia] pays four million euros a year for the broadcasting rights. The construction of the street circuit cost around a hundred million euros.5th January 2012, 21:23 at 9:23 pm #188421
Oh what a shame. Not.5th January 2012, 23:01 at 11:01 pm #188422
Perhaps someone should send Mr. Ecclestone a letter on behalf of the organisers of the European Grand Prix in Valencia, sabotaging their relationship here and there. I wonder, would Bernie really mind dropping them? Surely he has seen the same races in Valencia as we did? I can not possibly believe no one ever asked Bernie what he thought about the race right after…
The Spanish Grand Prix may not have been the most exciting racetrack on the calendar either, but at least it’s unique, being a very high downforce circuit. I like diversity on the calendar, not another streetcircuit trying very hard to be Monaco and failing miserably at it all at the same time.5th January 2012, 23:32 at 11:32 pm #188423
I’m unconvinced. There is always talk that Valencia is going to be dropped or merge with Barcelona and have the Spanish Grand Prix alternate between the two. I think it’s been talked about ever since plans for the race were announced. And yet, in four years, it has never happened; I’d say most of it is fuelled by a desire to see Valencia abandoned and forgotten (although I still maintain that a few minor tweaks would make it terrific). So pardon me if I don’t get my hopes up just yet.
Hopefully Bernie falls out with them and drops the race. Introduce a Portugese race instead.
So, let me get this straight: you want Bernie to drop Valencia and introduce a replacement race … in a country with no Grade-1 circuits and a similar financial state to Spain (“PIIGS” stands for Portugal, Ireland, Italy, Greece and Spain)? And you expect him to arrange all of this in the five months between now and the original date for the European Grand Prix?6th January 2012, 3:03 at 3:03 am #188424
Hell NO> Just drop them6th January 2012, 10:30 at 10:30 am #188425
I wouldn’t be too sad to see Valencia dropped, I love the circuit (on F1 2011 PS3) but it just doesn’t produce anywhere near the level of racing action we all want nor what F1 deserves, and this makes the race a bit dull and completely forgettable! I was amazed at the cost to construct the circuit every year, how can their economy sustain that cost? Thats a huge amount more than the circuit improvements cost at Silverstone???6th January 2012, 11:18 at 11:18 am #188426
@Prisoner Monkeys – Portimao is an F1 Standard circuit which is already on the F1 Testing roster of circuits, But I do agree that it seems pointless going from one cash strapped country to another.
@JK – I too love the circuit on PS3 to drive, but in reality the racing IS a bit on the Dull side and it DOES seem awfully expensive every year to throw up a few barriers and a couple of stands. My Brother and some friends went to the inaugural race and all complained at how awful it was.6th January 2012, 11:31 at 11:31 am #188427
Portimao is an F1 Standard circuit which is already on the F1 Testing roster of circuits
I believe it has a Grade-1T licence, which means it is suitable as a testing venue, but probably needs some kind of upgrade before it could host a race. Which means money would have to be spent on infrastructure and the sanctioning fees.6th January 2012, 11:54 at 11:54 am #188428
yeah, damn those burger vans are pricey!
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