Valencia will continue to host a round of MotoGP until 2016 after a contract extension was agreed between Dorna Sports and the Circuit de la Comunitat Valenciana Ricardo Tormo.

Ahead of this year's MotoGP season finale around the Spanish venue, Dorna's Carmelo Ezpeleta and Valencia Minister for Culture and Sports Trini Mir? confirmed an agreement that will see the sport visit the circuit for at least another seven years.

Dignitaries such as Francisco Camps, President of the Generalitat Valenciana, Gerardo Camps, Vice-President of the Generalitat Valenciana, and four-time World Champion and current Grand Prix team owner Jorge Mart?nez 'Aspar' were also in attendance.

"It is a pleasure for Dorna to extend the agreement that we have had with Valencia since 1999 for them to host MotoGP races," said Ezpeleta. "Valencia is already a 'classic' for the World Championship, and on several occasions it has been awarded as the best GP of the season.

"It is therefore an honour to continue our cooperation with the circuit and to count on Valencia as the last GP of the season for the forthcoming years, as well as the venue for the annual FIM Awards gala ceremony."

"Firstly I would like to thank Mr. Ezpeleta and Mr. Mart?nez for helping Valencia to host one of the greatest sporting events in the world," added President Francisco Camps. "Holding MotoGP races in the Comunitat Valenciana helps us to generate finances and boosts employment, also allowing us to promote our image around the world.

"This contract renewal and a Valencian team presence next year in all three GP categories, with Aspar, will help the Comunitat Valenciana to prosper further and to cement our event as a key date in MotoGP."

The Ricardo Tormo circuit joined the MotoGP calendar in 1999, the same year it was built, and has hosted the season finale since 2002.