Valencia will have to pay 18 million Euros to have its Formula 1 this year

Description:

Formula 1 in Valencia City Street Circuit.

Valencia will have to pay 18 million Euros to have its Formula 1 this year, but, the entrance fees will be the same as for 2008, as confirmed by the organising company, Sport Valmo.

Formula 1 Sport the Valmo company, that is in charge to organize the GP of Europe in the city of Valencia, will have to pay 18 million Euros to Bernie Ecclestone, the tycoon of Formula 1.  Sport Valmo wanted to clarify this figure because there was talk of 26 or 28 million Euros, which is incorrect.

In addition, the ex- Spanish racing driver has explained that during the negotiations he has explored another series of concepts with Ecclestone such as some rights on the publicity in order to have income now and not to have wait. Accordingly he has indicated that Ecclestone is to modify some concepts in order that the organising company has more comfort to carry out the event, at this time of economic difficulty.  The race will take place from the 21 to the 23 of August on the Valencia Street Circuit.

He confirmed that the entrance charges will cost the same as 2008 and will be on sale from today.