The Singapore-based ARC Resorts has announced plans to build a six-star hotel, casino, golf course and a museum for glass artists in the marina area of Valencia. The project would also include a second hotel and a number of luxury homes. The area was revamped in 2003 in preparation for the America’s Cup yacht races in 2007. The work included a metro line to the city and the local airport. After the America’s Cup teams departed Formula 1 moved into Valencia but the local government did not have the money to keep the European Grand Prix going. ARC Resorts says that it would be willing to invest $600 million to revive the Grand Prix, arguing that the investment would pay off if they were allowed to build the new complex, which they say would be “the best urban resort in Europe” and which would create 8,000 permanent new jobs. For the city of Valencia this would be a godsend as the area is now neglected and unused. The City Council of Valencia would need to change its rules relating to gambling in order for the project to go ahead, but it would breath life into the city, as the facilities would include a concert area, an indoor shopping centre and an arts centre in the iconic Veles e Vents building in the centre of the harbour, plus a yacht club in the old Team Alinghi base.
ARC has been involved in some of the development that has been going on in Singapore’s Marina Bay. The company is owned by Mark Vlassopulos, the son of Tony Vlassopulos, who ran the Token F1 team in the 1970s, after taking over Ron Dennis’s Rondel Racing. The Spanish see the idea as a way to revive the local economy and to provide money for infrastructure changes such as the long-awaited high-speed train link between the cities of Castellón, Valencia and Alicante and the development of the Castellón airport, which has been mothballed since its official opening.
The plan is to bid for a bi-annual Grand Prix and alternate with Formula E. This sounds a rather unlikely deal. The other element that will be difficult is the title of the race as Azerbaijan is expected to get the European GP tag in the years to comne. The good news is that Formula One Licensing registered the name “Formula 1 Mediterranean Grand Prix” as a trademark last year.
The Formula One group is very keen to create new European races because its contracts with the team require at least half the races (10 events) to be held in Europe. With Germany, Belgium, Italy and even the UK struggling to pay the bills, Ecclestone needs all the options he can find.
joeblogsf1 
Interesting concept to alternate with Formula E. Seems that formula is gaining traction as a viable way to bring motorsport to urban areas.
I went to Valencia for the MotoGP last year, and visited the site of the F1 circuit. All the infrastructure seems to still be there, albeit in need of a lick of paint. It’s place in the town is a bit run down as you say, and very quiet. This was November though – I’d imagine in the summer it’s busier?
It always looked ideal to me to be able to watch the race then go to the beach, but it’s about a 30 min walk from the town centre. I’m not sure that was ever a problem for race goers but I was surprised at how long it took to walk there!
It’s a lousy walk; there is nothing interesting to observe on the journey. I’ve done it too. I guess that is why locals hop on the cheap tram!
Lousy – especially if you take a wrong turn and end up the other side of the river! The tram would have been the sensible option.
On the gambling front….
Each time the drivers pass “go” they get the option of throwing a dice.
Throw a six and you get an extra gazillion watts of ERS.
Throw a three or less and you either miss three laps or have to drive a McLaren, whichever is slower.
Two consecutive sixes and you get to control Bernie’s rainshower button.
Could make a turgid race watchable..?
it doesn’t change the fact that valencia is a pretty dull track though.
Urgh, Valencia provided nothing but tediously boring races as far as I remember. I wasn’t sad to see it go.
Your memory serves you correctly. Parade laps at Valencia. Horrible circuit.
Yep, and because of physical constraints it would probably be hard to make the track into anything more interesting, even with $600m. Let it die.
The 2012 race was one of the best of that year, surely?!
While Maldonado crashing into people is a frequent event I’m not sure that you could rely on that plus multiple car failures to make it possible for people to climb up the order every year. I may not have even watched that race with it being Valencia, I don’t remember it, I expect I skipped it due to it always being a yawnfest, I would do the same again.
But there have been [non-championship] Mediterranean Grands Prix for Formula One before at Enna-Pergusa in the 1960’s and the major events at that circuit have been the successors to those, by title if nothing else. Last year’s “42° Gran Premio del Mediterraneo” was an ETTC event, as is the 43rd due to be this year.
Have the authorities behind the track been bought out, or will we have an F1 GP Med GP and a Pergusa GP Med?
Given that The Bernard wants the options and inevitably wants to put pressure on promoters, is there a chance that this is a smokescreen put up by some Singaporean chums of his in order to push certain European venues to up their respective bids?
They seem to be pretty serious
So did New Jersey. Seeing is believing…
What ever happened to New Jersey Joe, is it still a possibility?
I don’t know but I did spot that New Jersey’s Division of Investment agreed to commit $100 million to CVC Capital Partner’s new fund in the summer of 2013.
New Jersey was serious. Unfortunately the way holding a Grand Prix from the financial side of things is “you pay hundreds of millions to build a facility, pay us millions and millions, make nothing whatsoever yourself and lose your tail on it”. This is why you’re not seeing a race in the NYC metropolitan area, a Grand Prix of France, a Grand Prix of Germany, a flip flopping Grand Prix of Belgium…. But a third world country’s government steps in and instead of the lost aforementioned, we will be seeing a Grand Prix of Azerbaijan. The bottom line here is do companies such as Mercedes-Benz, Ferrari, Renault, or Honda see it a worthwhile F1investment in bypassing markets such as Germany, France, the U.S. In favor of places like Azerbaijan? Additionally Italy is now in question and Great Britain seems to be in the sights of BE all the time. Perhaps a race in Tibet could replace Italy and a race in Nigeria could replace Great Britain? Let’s not even talk about pay TV. The fuse it lit and burning. If the manufacturers expect a return, third world countries don’t work and they will pull out. For races to work in places that matter it has to be a Win – Win situation for venues as well as F1. You don’t have to be a rocket engineer or a brain surgeon to figure this out. It’s plain old common sense. The writing is on the wall and the fuse is burning…. It’s only a matter of how long the fuse is before it hits the charge.
I have just realised I haven’t thought about Formula E since the first race, and you have reminded me to check online if the season is over yet and if so, who won. Not sure if I should feel embarrassed by that or it’s a common state of affairs for other motorsport fans.
Apart from the bonkers format, some of the racing actually looks better than some F1 races.
No it has not finished yet. But probably will be before this pig ever gets airborne. I went to see the Americas Cup and F1 legacy 4 weeks ago, after the Fallas. The city seems to be on its knees and the legacy seemed virtually non-existent
The King’s sister is currently “up before the Spanish beak” for misappropriating public funds relating to these failed efforts.
Thank you Rodger, I shall try to catch what remains of the season on that recommendation.
And yes, it does appear to be a bonkers format.
No just you, genuine motorsport fans know about what’s been happening in formula e…
EWide-sweeping generalisation there…
I view it in the same light as lingerie football – very gimmicky. Early days, but at this stage it does nothing for me.
That said, might pop down the road when they are in Battersea. Nice quiet Sunday afternoon walk…
Yes
Wilson
I’m looking forward to Monaco which has a slightly different circuit route from usual. Whatever anyone thinks about the formula it goes to places where F1 wouldn’t or couldn’t. Something to reflect on.
Yes, it is going down the hill to the harbour after Set Devote because they cannot go up the hill without running out of power…
You’re having me on!
Formula E has been very entertaining. It’s different, but enjoyable for different reasons.
Test
For what are you testing?
To see if you react…
I reacted
Sorry, don’t you know in season testing is banned?
I thought in-season testing was banned !
It’s OK he still has tokens to spend
re: Test
Ah, someone from Haas doing what the rest of the teams aren’t allowed to.
You failed.
do something to the track to make the racing better and then maybe this is interesting
How can their contracts have 10 European races as a requirement when the 2015 calendar only has 7 European races?
Europe & the United States:
Spain, Monaco, Austria, Britain, Hungary, Belgium, Italy, Russia, Austin (and Germany was on the original calendar) = 10 of 20. Now 9 of 19.
Sochi is in Asia. 8 out of 20. Baku next year is in Asia as well. Turkey was in Asia as well.
Who made you the judge?
The problem here is that there is no legal definition of Europe. The EU is the EU but not all European countries are members (Switzerland etc)
Geographically, Europe ends at the Urals in the east. Sochi is west of the Urals, therefore it is deemed to be European.
In the south the generally-accepted border is the Caucausus Mountains. North of these is Europe, south of them is Asia. If you look at a map you will see that Azerbaijan is largely south of the mountains but there is a strip of land on the Caspian coast that is north of the mountains, and therefore, arguably in Europe. Baku is not, but you can see the argument.
US or NA, i.e. does Montreal count?
So, FOM has to hold 10 races in “Europe” or the US or it is breaking contracts with the teams? Why the US given it’s small viewing figures?
No, FOM has to hold half the races in the US or Europe. Or it must seek the agreement of the teams not to.
9 out of 19 is less than half…. I take the 50% is “on paper” only, in this case.
Yes, but when it was all announced Germany was there.
Was Valencia not the very worst sort of urban mash up track, that produced really dull processional races. Great pity that great tracks like Turkey (IMHO the best of the Tilke tracks) will almost certainly never be resurrected.
Wilson
I recall we had one unlikely thriller but that was mostly down to dying cars and crashes which you can’t always rely on to spice things up. Though since we have Honda and Renault in trouble and Crashtor is still a racing driver – if only it’d been held this year it might have recreated the magic…
What does Azerbaijan need the name European Grand Prix for? Aside from the fact that the country isn’t in Europe, they’re not having two grands prix there, so why wouldn’t they just call it the Azerbaijani or Azeri Grand Prix?
Because there needs to be 10 European or US events per annum, contractually.
Must be a marketing thing . . .
‘Europe’ has a better record on human rights.
Apart from a couple of world wars in the ‘distant past’.
Because if they don’t call it European then people may not believe them that the track is actually in Europe but actually in Asia (therefore not counting towards the minimum Europe-USA race number requirement). The Europe name tag means it can be considered a European race; at least that’s what I’ve heard (likely on this blog, actually).
“European” appears to be a brand you buy now. Israel and Australia took part in The Eurovision Song Contest last year, so all bets are off now.
Er, yes. That’s quite correct. I hadn’t spotted that but wasn’t the European Grand Prix coined to have two Spanish GPs? Is it simply so they can avoid having to announce they put a GP in Azerbaijan?
Probably more to lend Azerbaijan as a country some credibility as a modern state – similar to their tactics of paying large amounts of money to UK newspapers for favorable sponsored coverage.
Azerbaijan doesn’t need the name, but Bernie needs them to be called European to keep within his commitment (see other comments)
Azerbaijan paid a lot of money for the Eurovision Song Contest and the European Games, so methinks they want the name. It is all about oil pipelines and being seen to be less central Asian and more western
Putin’s ears just twitched.
Obvious answer:- It’s so they can pretend that Azerbaijan is in Europe. Some weak-minded folk will fall for it.
Joe,
How can the FIA just stand by and let Mr. E get away with the farce of calling Azerbaijan the European GP?…with Germany out of the game, Italy on the chopping block and the rest of the european races in not the best of economic health, this seems to me like a breach of contract is inevitable unless something changes drastically, even if this Valencia race does materialize.
I’ve always admired J. Todt’s achievements and at the begging of his tenure at the helm of the FIA I welcomed his more “talk softly” approach in contrast to mad max’s bedside manner; but old Jean seams to have forgotten the “big stick” part of that equation. Surely this is an opportunity to take back the commercial rights of the sport or at the very least a reason for a firm tug on Bernie’s leash.
if you want claim the fame, please correctly spell the name; ’tis Tyrrell
Do you really believe Todt has a leash on Bernie? Or that he can be firm? More the other way around.
You get the feeling Todt is waiting it all out, until it magically falls in to place for him. Christ knows what he knows or thinks he knows, then.
I disagree. Todt had a different agenda that will lead to his departure to
Is his agenda to go into French politics?
No, I don’t believe so. It is to have some kind of international role. He’s too old for French politics. Sarkozy and Fillon are almost 10 years younger than Todt is.
It is actually possible to find people who will assert that Baku is in Europe. As that number obviously includes prominent members of Formula One Group, they’re not going to have much difficulty in finding the other European venues they need. It’s only a small step, figuratively, to making a case for Mongolia – “Well, it’s attached to Europe”, or Pakistan – “Lots of Pakistani’s in Europe”.
noooo I thought that terrible track was gone forever! how about reviving Imola?
Zaphod, I am not ashamed to admit that I have fallen asleep twice now, trying to watch scaled up Scalectrix.
As regards Valencia. If they’ve got $600 million to spend then CVC will send Bernie to have a sniff around.
My recollection of the previous races at Valencia was the TV colemantators banging on about the huge grandstands while conveniently ignoring the fact that you could have fired a shotgun at most of them without any danger of hitting anyone other than a marshal. I’m not sure a revival would bring in any more paying punters, but then Mr €cc£e$tone is not known for his caring attitude towards the live audience.
This is a cya exercise so Ecclestone can claim he made a reasonable effort to secure the required number of European races before he cancels the next-in-line, whether its Monza,Spa etc. Wouldn’t want to breach that contract now,would we?
Joe,
Please could you explain why the term European Grand Prix even exists? I mean, who actually cares?
Or is it purely a contractual thing so there appear to be more European races? I’m sure the term has been around longer than the recent times when there haven’t been enough European races!
Thanks!
It exists so that there can be two GPs in the same country in the same year
Is Turkey gone for ever, Joe? Is there no appetite from government to have a race there?
None
Ha to the Spanish Airport idea, they have enough spare rotting Airports that they could make them all into race tracks and host an F1 season.
http://www.businessinsider.com/spain-airports-empty-2011-6?op=1&IR=T
Pie in the sky idea’s there if they think thats going to save that. I think when the money men get their calculators out things may be less rosey.
Is that ABBA I hear… Money, Money, Money… Cvc is selling F1’s soul. Valentin may be in Europe, but it could be anywhere. It’s a far cry from Monza.
Valencia was a rather dull track, but i also thought it was run at the wrong time of the year. That part of Spain could easily host an October/November race (obviously Barcelona is a Spring race)
However having access to somewhere free to stay on the Northern Costa Blanca, I could attend this race rather easily………
I view it in the same light as lingerie football – very gimmicky. Early days, but at this stage it does nothing for me.
That said, might pop down the road when they are in Battersea. Nice quiet Sunday afternoon walk, feed some ducks.
Greed is an amazing thing. It’s stunning to me that Bernie E.,, who has been around F1 most of his life, doesn’t seem to have developed any appreciation for the sport’s history and traditions. He’s reduced it to its lowest and least interesting feature: money.
As you point out, wonderful venues in Germany,Italy, Belgium and the UK are struggling to put on races. We don’t have a French, South African or Dutch GP anymore.
The rape of F1 really disgusts me.
Hear hear .. this x 1,000,000.
No-one remember Alonso coming from 12th(‘) on the grid to in in Valencia? That was the ultimate borefest, right? The first race in Valencia certainly was, and for some reason the UK press/web comments never let it lie. It´s not Singapore, but there is nothing wrong with the track.
Following comments are based on many years based and working in Madrid, Valencia and Alicante.The race was always a folly, fuelled by the populist Valencian government´s jealousy of Barcelona. Said populists are now being investigated for corruption, almost to a man. Not like BE to deal with such folk.
Castellon airport is a total white elephant for identical reasons of vainglorious regional representation (Valencia has an adequate airport, Alicante an excellent airport). There are no plans for a high speed railway between Alicante, Valencia and Castellon. The short distances, topography and balance of payments in the region and nation make any such project far in the future, but impractical from any rational point of view. So funding of either project by a GP is not required.
Not sure how Valencia city council would need to change its rules on gambling. There are casinos in other parts of the community A similar scheme in Madrid (Eurovegas) promised 60000 new jobs (hostesses, security staff, catering etc) by changing an inelegant suburb into the European fiefdom of Las Vegas “magnates”. Strangely for the gambling/entertainment, some of said magnates had more than interesting pasts, and expected national tax, labour and safety laws to be rolled over for them.
I like Valencia, would like to see the GP alternate with Barcelona (that usually is a boring race!), but this doesn´t sound like a credible plan.
So, F1 is in crisis, and Bernie’s response is to revive Valencia? Valencia is a lovely looking city, so it was some kind of wonder they managed to make it look like a lump of concrete, with a bit sea peeking over the top sometimes. Bizarre. But we are getting very used to bizarre statements from every single person in charge.
Where are they going to revive next? Caesar’s Palace?
The current problem, as I see it, is that the F! race format is becoming overexposed. Adding more of the same may help CVC’s bottom line while they are looking for a sucker to unload it on, but long term it is suffering from being 20 times a year for the same old thing.
20 times a year we turn up at another replica of the same grandiose Tilkedrome, listen to the same Ronspeak press conferences, watch the same practice format, the same qualification format, and virtually the same less than 2hr race format. No wonder we are getting bored with the whole show.
Tinkering with the cars and things like DRS may help a bit, but really it is the same show over and over again. If we are lucky we might get a different winner but usually that is down to an outside event like weather.
If we have to have 20 events spread round the world why not give them points of difference?
Monaco, Singapore and Spa have their own defining character, as did Abu Dhabi until Bahrain copied it but just about everywhere else could vary format.
Let’s open in Australia with 3 x 45min sprints with an hour between them when work was allowed on the cars and the winner was decided on overall placings. Would help with getting more finisher from untried cars.
Off to Malaysia for two one hour sprints, one in the heat of the afternoon the other as things cool off.
Other events through the year could include a straight 4 hour event with refuelling allowed, variations in rules on tyre usage, split races with cars in parc ferme between heats and so on.
The excuse that races have to fit an existing TV format package is less and less important with the exposure provided by other platforms, and even the head in the sand mob must realise that providing the same old repeats will only lead to a diminished viewer base.
So why revive Valencia unless it is going to provide something different and not just add to the over exposure?
After last week’s Politics of TV control then this weeks Politics from the Fat Controller is – Let’s see if we can get all of the $600million from Valencia for me as Thomas the Tank Engine and all the other Engines have to do what I say, and all this is irrespective of the paying and viewing public or the Series as the Fat Controller stopped giving a Flying F**k about them many, many years ago.
Also, I know it’s not just me that feels this, but let’s face it right now, there is only one winner this year – we know right now Lewis will win but what is becoming sad is that you can feel the manipulation by the Fat Controller to try to ensure that this isn’t too obvious. This therefore, brings into doubt every single race coming up – even when I know that Nico, Kimi and Seb will have some great races.
Thanks Fat Controller, I’ve 100% lost trust – this is like racing in North Korea with the Big Boss looking on and deciding the outcome.
Mr E could learn a lot the US in how the conduct there motorsport events. OK, I’m sure everyone gets a payday over there but at least its not ALL going to a money crazed OAP.
The simple fact is that is Bernie wasn’t demanding so much Money from the circuits there would be more European races.
I have been an avid F1 fan from a young age, however lately I find watching Indy car more entertaining & Nascar ! Putting up with all the commercials are worth it. (even if half the field in Indy car cant drive for toffee)
Valencia would be a good track for a Formula E race as they are more likely to be able to overtake. It’s less good for Formula 1 because the cars are too fast for the track, so it produces dull races with little overtaking. That part of Valencia is better suited to a motor race than a glamorous 6 star hotel, Monaco it is not, but I guess the developers are hoping to do things on a big enough scale to create a sense of ‘place’. I can think of places in Spain I’d rather build a 6 star resort.
The heading brought thoughts of Sal volatile, (Which policemen were once required to carry for the purposes of reviving ladies who had fainted.) reviving Valencia!
The PR sounds very nice and it seems a worthwhile project for the area, but whether motor racing has anything to do with it is another matter.
The most exciting thing I can recall off the top of my head about Valencia was Mark Webber’s exercise in taking his car into the air in their Red Bull ‘wings’..
You mean gambling on the chance of this happening *and* being a success?
joe , as another french resident I also have an interest in mr todt’s plans for the future and probably agree with you as to his ambition
presuming for a moment that we ARE in agreement , do you think he really has a chance ? at least in france being jewish is not likely to inhibit his ambitions
It seems a happy coincidence this has been announced on the eve of what are likely to be hotly disputed local elections. Sounds like a vote catching campaign by the party in power same as when the first GP was organised.
El Pais is not reporting it in any details so I would not give to much credence to it being a serious possibility.
Joe – Your article says 50% of races have to be in Europe, but your comments say Europe and North America. Could you correct the article to include NAmerica?
50 percent have to be in Europe or the U.S.
I thought so. The final para in your article needs to be corrected, it does not refer to the US.