Valencia is keen to stay in the international spotlight when the America's Cup departs and the city government has just voted through the funding for a rebuild of the streets to open the way for an F1 track in 2009. The track will run around the harbour area and hopes to become a Spanish version of Monaco.
The local authority is making no secret of its desire to land a Grand Prix and has even issued a map for the planned circuit. This includes a loop around the America's Cup port area, known as the Barsena Interior, including a section over a bridge. To the west of this is an area of old railway land where the plans involve redevelopment, including the construction of pit buildings along the Calle del Poeta San Martin y Aguirre. The track would then run up to the roundabout where the Paseo de la Alameda meets the Calle de Menorca. There may be a further extension into the city but the track would then run back to the port area.
The whole 2.5-mile track would require considerable construction work but would help to link the port area with the old town, a major goal for the tourism authorities.
It is hard to imagine that anyone would invest this kind of money without knowing for certain that the city had a deal for an F1 race.