History
The deal to host the Valencia race was signed on June 1, 2007, and is for seven years. The deal was made between Formula One supremo Bernie Ecclestone and the Valmor Sport group, which is led by former motorcycle rider Jorge Martinez Aspar and Villarreal football club's president Fernando Roig. This deal goes back on comments made by Ecclestone previously stating that no European country should hold more than one race each year as Barcelona currently holds the Spanish Grand Prix each year.
Although now confirmed, the deal was rumored to be conditional on the People's Party winning regional elections on 27 May 2007. However, Ecclestone had clarified his comments on May 16, 2007: "I said I wouldn't formalise a contract until after the elections because I didn't know who I would be signing it with." He said his statements were taken out of context. Ecclestone has since been cleared of influencing the election by the Valencian Electoral Commission.
The official track layout was unveiled by Valencia councillor and transport counselor, Mario Flores, on 19 July 2007. The track was first used in the last weekend of July 2008, as the circuit hosted a round of the Spanish F3 Championship and International GT Open. It was first used for the European Grand Prix on August 24, 2008.
Read more about this topic: Valencia Street Circuit
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