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Spanish GP only guaranteed for next two years

Doubts continue to surround the future of the Spanish Grand Prix after the new president of the local Catalonian government told the El Pais newspaper that he can only guarantee that the grand prix will take place for the next couple of years. Artur Mas said: "The continuity of the formula one race at this circuit is guaranteed this year and probably also for the next. I hope it can be sustained for the future, but that will depend on the evolution of the economic situation and the results obtained in the next two years." "The situation is what it is; I'm not here to fool anybody. I know the value of hosting an F1 race and motor racing is a sector that drives the economy. I will do my best, but we cannot hide from the truth. We need to reduce the budgets." As like the concerns surrounding the future of the Australian GP, the main issue at the heart of the matter is the escalating costs to hold these events. "We are in a time of severe budgetary constraints and it's going to affect everything a little bit," Mas continued. "We need to move through these two difficult years and, if we recover, the contract we have for a few more years we will see in a bit of a better light."

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