Valencia could be dropped after non-payment

Friday 02nd March 2012, 10:03 by Ryan Wood 

Red Bull / Getty Images

The European Grand Prix in Valencia is at threat of falling off the 2012 calendar, after it was revealed that the local government is yet to pay Ecclestone the host fee.

The race is set to take place on June 24th and without payment, it's likely that Bernie Ecclestone will simply cancel the unpopular event.

The regions president, Alberto Fabra, says the terms in which the event was agreed under need renegotiating as they're unaffordable in such difficult economic times.

"Formula 1 is not what concerns us most," he told El Pais. "We have said many times that what concerns us, is the payment to suppliers."

When asked whether or not the estimated £20m (€25m) fee had already been paid, given it was due last year, Fabra replied: "Well, I do not know, I can't say."

Meanwhile, a spokesperson for the circuit confirmed that negotiations between the organisers and FOM were still ongoing.

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