A press conference in Valencia

Bernie Ecclestone will be hosting a press conference later today in the city of Valencia, with the president of the regional council Francisco Camps. It is ancipated that this will be the announcement that Valencia has secured the European Grand Prix for 2008.

A second race in Spain makes considerable sense given that Germany has had two races for much of Michael Schumacher's reign in F1 and with Fernando Alonso now the biggest star Spain's level of interest in F1 is at an all time high. Valencia is very keen to build up its international profile and has achieved much with the America's Cup in recent years. The Cup ends in July and will most likely move elsewhere, although this depends largely on who wins. The Grand Prix in Valencia would then take over as the major promotional tool for the city. It would also serve the additional purpose of developing a part of the city that has been undeveloped until now, which will link the city centre with the port. The circuit will be a street venue but will feature purpose-built pits and paddock in an industrial area which currently features warehouses and railway marshalling yards. These will no doubt be developed as the race settles into the area.

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