Valencia has announced it will only consider a return to the F1 calendar on the basis of a lower fee to host the race with an alternation with the current host venue in Barcelona.
There has been much speculation about the future of the Spanish Grand Prix as the country's economic worries continue; however, chiefs at the Circuit de Catalunya in Barcelona did reveal that they do have the resources to host the race every year for the foreseeable future.
That does not, however, rule out a potential alternation deal with the organisers at the Valencia street circuit where the European Grand Prix was hosted until the race was dropped this year.
The condition of the Valencia street circuit, however, is also uncertain - reports last year said the circuit, based around Valencia's famous harbour, was in a state of disrepair with all objects of any value stolen and the swing bridge was now only hosting homeless people.
The latest reports from Valencia indicate talks between Barcelona organisers and Bernie Ecclestone are continuing but Valencian officials are only willing to host the race if the fee is reduced.
"We are negotiating a discount for it [the F1 race]," regional Vice President Jose Ciscar said. "When it is closed, I believe that we can sign the contract between the three parties," he told the Spanish news agency EFE, referring to Valencia, Barcelona and Ecclestone.
Ciscar does also believe a deal could be struck that would see Valencia host next year's Spanish Grand Prix, but added: "I'm very cautious.
"When we can announce that the deal is done, it will be announced."
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