Jun.14 (GMM) Valencia race chief Gonzalo Gobert has confirmed moves are afoot to host the European grand prix street race only once every two years.

It emerged recently that the regional governments of Valencia and Catalonia have finally agreed that, amid Spain's economic crisis, Bernie Ecclestone's race alternating scheme is the best way forward.

So when asked how the city of Valencia can imagine sustaining both F1 and MotoGP amid the economic crisis, Gobert told Marca newspaper: "The key is the alternation.

"The solution is alternation," he repeated.

"At present, having two F1 races in Spain in May and June makes no sense.

"The alternation will work perfectly because it means the country does not stop (hosting F1). It (F1) is a great promotional tool but, like everything, you have to rationalise it."

Gobert admitted that the financial figures for Valencia's recent grands prix are "not good".

"On the other hand I think a formula one grand prix is not to make money. If someone manages that, give him the Nobel Prize for economics.

"It is an event of 500 million viewers and 187 countries that fills up restaurants and hotels. If you make money as well, you would have invented the wheel.

"Instead, you have to have a balance and so we are reducing the budget where we can," he said.

The next step, he acknowledged, is to finalise the alternating scheme with F1 chief executive Ecclestone.

Asked if he is seeking a reduced sanctioning fee, Gobert answered: "I understand that the negotiations will take into consideration everything to fit the current situation.

"But this is at the governmental level, even if I know that they are negotiating."

Latest F1 News - Mobile version

26 Feb: New Ferrari not quickest in field - Domenicali 26 Feb: Red Bull still best in 2013 - Tost 26 Feb: 2014 French grand prix 'possible' - Prost 26 Feb: Danica Patrick 'not interested' in F1 switch 26 Feb: Report - Gilles Simon working on F1 engine for Honda 26 Feb: Gutierrez plays down link to Carlos Slim 26 Feb: Caterham exhaust 'legal' insists van der Garde 26 Feb: McLaren replaces Mercedes-bound Lowe 25 Feb: 'Engine maps' trouble for Red Bull, Lotus - report 25 Feb: Mercedes-bound Lowe to miss 2013 opener - report 25 Feb: Mercedes 'in group of teams' behind Red Bull - Lauda 25 Feb: Gutierrez expects Hulkenberg to beat him early in 2013 25 Feb: New Ferrari 'much better' than 2012 - Massa 25 Feb: Teams 'will adapt' to new tyre situation - Gutierrez 25 Feb: Tight rules make today's F1 cars 'the same' - Forghieri 25 Feb: Williams removes controversial exhaust trick 25 Feb: Contract 'conflicts' cause of Marussia test snub - Razia 25 Feb: Lotus to fight Red Bull for title - Gutierrez 25 Feb: Marussia 'ahead of Caterham' - Chilton 25 Feb: Sutil will not stay in F1 as test driver The latest F1 News - Mobile Version

F1 News  F1 Schedule  F1 Line-up  Constructors' Championship  Drivers' Championship  F1 Tickets  Live F1 Coverage

Full Version: Formula 1 News  Formula 1 Schedule  Formula 1 Line-up  Constructors' Championship  Drivers' Championship  Live F1 Coverage  10 'n' Pole  F1 Regulations  The Forums  Motorsport Shop  F1 Merchandise  F1 Tickets  F1 Diecast  F1 Videos  F1 Games