The Valencia Street Circuit has hosted it's final F1 race, that is the claim of a media report in Spain who say official at the port city are in talks to break it's current F1 contract.
The street circuit last hosted F1 in 2012 but was dropped as the financial crisis continues to hit Spain very hard.
It was hoped a new alternation scheme with Barcelona's Circuit de Catalunya would be arranged in order to save Valencia's hopes of hosting Formula 1, however, on the provisional 2014 calendar Barcelona remains the host venue and has indeed started to sell tickets.
Dairio Sport claims negotiations are taking place between Bernie Ecclestone and Valencia's President Alberto Fabra but those negotiations are only over how much the city should pay for breaking it's current F1 contract.
It is understood Ecclestone is demanding the full €33m termination penalty, though Fabra is in talks to try and "soften" that penalty.
Valencia's treasurer Juan Carlos Moragues Ferrer was reported as saying he wanted the government to "meet our obligations without having to close schools or hospitals."
"In this context," wrote correspondent Laura Lopez Albiac, "it would be very difficult to explain to taxpayers that more money is being allocated for an extraordinary item such as F1."
The state of Valencia's semi-permanent street circuit could be another reason for the demise of the venue that hosted the European Grand Prix from 2008.
According to reports earlier in the year the circuit was in disrepair with all items of any value stolen and homeless people now occupying the swing bridge that was the centrepiece of Valencia's F1 foray.
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