Mar.5 (GMM) Organisers of the Spanish grand prix are set to propose once again that Valencia shares a single annual date on the formula one calendar in future.

Both the Barcelona and Valencia venues have admitted to financial troubles amid Spain's dire economic situation.

F1 chief executive Bernie Ecclestone is pushing the Spanish organisers to agree a deal whereby they open up a date to a new host country by annually alternating their races.

Valencia, however, is believed to have rejected a proposal along those

lines made by the Catalonian government last year.

"They said they were happy with how formula one had developed to date in Valencia and believed they could continue doing it the same way," Barcelona official Germa Gordo, reportedly close to Catalonia president Artur Mas, told the DPA news agency.

"We understand that although there was the rejection, the new Valencian government is prepared to consider a proposal," he added.

"The offer will be made in the coming weeks."

Marca newspaper, meanwhile, quoted a Valencian official as reiterating that "the issue of major events" is "under review".

"What we want is an agreement that is good for everyone," the unnamed official said.

It is believed informal talks between the regional authorities have already taken place.

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