Valencia announces seven-year F1 deal
During a press conference this afternoon, Bernie Ecclestone announced that Valencia will host a Formula One Grand Prix in 2008 after signing a seven-year deal. The race will be named the 'European Grand Prix' and will take place at a street circuit in the centre of the city. From next season, Spain will have two Grands Prix as the Circuit de Catalunya in Barcelona still has a contract with the F1 supremo until 2011.
