Valencia will host a Grand Prix from 2008 after agreeing a deal with Formula One supremo Bernie Ecclestone.
The race, to be called the European Grand Prix, is scheduled for late in the season on a newly-designed circuit around the Spanish port’s streets.
The seven-year agreement is conditional on the People’s Party holding power in local elections to be held this month.
“The contract will not be signed until after the election, but I’m convinced it will happen, ” said Ecclestone.
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