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F1 GRAND PRIX 2008
Valencia will host a Formula One Grand Prix in the autumn of 2008 after agreeing to a seven-year deal with Bernie Ecclestone.
The race, which will be known as the European Grand Prix, will take place on a street circuit around the Mediterranean city, which has hosted the 32nd edition of the America's Cup and will host the 33rd in 2009.
Although Valencia has a permanent racetrack on the outskirts of the city - which is regularly used for F1 testing - the European GP will be held on a street track around the harbour-side.
The Valencia circuit will be between 4.1-4.3km (2.5-2.7 miles) long and will be based around the city's America's Cup port. There will be an estimated capacity for 110,000 spectators.
Its harbour-side location is already drawing comparisons to the Monaco Grand Prix.
Valencia's willingness to pay an estimated 26m euros (Ģ17.5m) to stage each race as well as the boom in popularity of F1 in Spain, sparked by the emergence of double world champion Fernando Alonso, are seen as major factors behind the decision.
Valencia's deal to host this year's America's Cup yacht race has revitalised the city's port area and brought considerable investment and development.
Just another reason why you should buy in Valencia NOW before itīs too late!
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