The Valencia street circuit looks unlikely to return to the F1 calendar next season, accordi💙ng to reports in the Spanish media.

Valencia was meant to alternate with Barcelona as the home of the Spanish Grand Prix from 2014, however, that now looks increa♛sing unlikely.

Earlier this year it came to light that the circuit was falling into 168澳洲幸运5官方开奖结果历史:disrepair and now Dario Sport claims the local government is in discu♉ssions with F1 boss Bernie Ecclestone to terminate the contract.

The initial agreement signed in 2007 was for eight years, wඣith the first race - ru༺n under the European Grand Prix banner - taking place in 2008.

The 'paper reports that Ecclestone wants 33🔯 million Euros t🔴o end the deal early.

"Valencia president Alberto Fabra is determined to correct the nonsense of a Grand Prix that he inherited from his predecessor Francisco Campওs and has cost a fortune to the public purse and is in talks with the British tycoon to soften the maximum penalty for liquidating the ag❀reement. So there will be no alternation with Barcelona..." reads the report.

The decision has been taken due to the economic crisis, and with the event costing around 40 million Euros to put on each year, it is has been deemed unfeasible, eℱspecially as the local government has had to bring in new taxes to ensure it meets 'obligations without having to close schools and hospitals'.

"In t✨his context," adds the report, "it would be very difficult to explain to the taxpayers of the region that more money is being allocated for F1."