Jan.26 (GMM) Spain's formula one broadcaster La Sexta has raced off the grid, it emerged on Thursday.

Publico newspaper, linked to Spanish F1 rights holder Mediapro, said other broadcasters can now bid for the coverage due to La Sexta's inability to pay.

La Sexta held a contract for 2012 and 2013 but Mediapro "has terminated" it with immediate effect, Publico said, citing sources who blamed declining advertising rates.

Mediapro issued letters this week advising that the deadline for interested replacement broadcasters is February 6.

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