The European Grand Prix runs the risk is being kicked off the 2012 Formula 1 calendar amid reports that event organisers are running out of time to stump up the sanctioning fee it needs to pay to F1 supremo Bernie Ecclestone in order to guarantee the event’s place on the calendar.
Under the terms of its contract with Formula One Management, organisers of the street circuit event, which is slated to occur in June, are required to pay the sanctioning fee in full by no later than March 9.
But there are ongoing concerns over the viability of staging two Grands Prix in Spain (the other being May’s Spanish Grand Prix) when the country is suffering from an ever-worsening economic crisis and rising unemployment, and this has forced organisers to explore the option of alternating the two races in future.
“We are still negotiating [with Ecclestone],” an event spokesperson told the El Pais newspaper.
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