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Barcelona poised to reduce funding for Spanish GP

Barcelona's city council to reduce support for Spanish Grand Prix from 4 million Euros to 2 million
The Spanish Grand Prix is to have its local funding cut by half in 2016, it has been reported.

Barcelona's city council plans to cut its contribution towards the event from 4 million Euros to 2 million this year, as its moves to phase out its support entirely.

Barcelona's first deputy mayor, Gerardo Pisarello told local media – including El Confidencial and Diario Sport - that Formula 1 is “not a priority”, but that the funding had not been “abruptly” cut as this could have “serious consequences”. Instead it will be phased out giving promoters time to come up with a “viability plan” so that it can become “self-sufficient, little by little.”

The event currently has a deal in place with FOM boss Bernie Ecclestone until 2019, having inked a new contract last spring. This year's Spanish Grand Prix is scheduled to take place on May 15, the fifth round on the F1 2016 calendar.



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Marauder

January 02, 2016 6:06 PM

Bernie and his cronies need to face the facts, F1 can NOT continue this way. Adding more tracks is a mistake, the priority should be keeping the current tracks on the calendar and not adding new ones. I've never liked the Spanish GP but i certainly prefer it over the boring middle east races Bernie is becoming so fond of. You know the sport is in trouble when a currently dominant team is thinking about impairing its own team in order to liven the races up. In order to fix F1 a few things need to be done, engine prices need to be lowered, a cost cap enforced, more mechanical grip and less aero, cheaper ticket prices and the old man needs to go.



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