Valencia govt. to fund city centre F1 track

The Valencian government has decided to go along with the idea of Formula 1 supremo, Bernie Ecclestone, and opt for the creation of a circuit around the City of Arts and Sciences in Valencia rather than alter the Cheste circuit.

It was in February this year that a delegation headed by regional president, Francisco Camps, met with Mr Ecclestone in London that two months later resulted in his visiting Valencia for the first time, coming away "very impressed."

The project now being put forward is that the Valencian government finance the actual generation of the circuit -estimated to be some twelve million euros- whilst the sponsors will pay for the actual costs of staging the event

F1 boss impressed by city centre track potential
By: valencialife.net
Wednesday, November 29, 2006

Formula 1 supremo, Bernie Ecclestone, paid a second visit to Valencia yesterday, where, accompanied by Alfonso Novo and Victoriano Sanchez of Valencia town council, he undertook a second inspection of Valencia port, the quays, the City of Arts and Sciences and adjacent streets.

During his visit, Mr Ecclestone also showed an interest in the Americas Cup installations, with a view to altering them to be capable of being used for F1 events.

In a generally highly relaxed atmosphere, Mr Ecclestone was asked his opinion of the Cheste circuit, which he stated was "very good," but added that he considered a circuit around Valencia port and the City of Arts and Sciences to be of greater value image-wise.