In early May, I wrote a column for GP Week in which I opined that we should scrap both Spanish grands prix.
It was a glib piece of writing, designed to amuse, but there was grain of truth to my argument - Spain wasn't really in a financial position to host one grand prix, let alone two.
That was nearly three months ago. Regular readers of those dead trees we like to call newspapers will be aware of the fact that Spain hasn't won the EuroMillions in the past ninety days, and that they're getting nasty red letters from their bank manager concerning the size of their monstrous overdraft.
In fact, the argument for scrapping both Spanish races gained traction this week, with the news that the Communitat de Valencia has applied to the Spanish national government for an €18 billion rescue package to be paid for out of the national government's own EU bailout package.
The regional government of Catalunya is said to be next in line to apply for emergency funding - both Catalunya and Valencia have billions of euros in overdue loans, and need government assistance to make the next round of interest payments.
Yup, this is sub-prime lending on a national level. The very notion should strike fear into the hearts of anyone with a penny invested in Spain.
Given that Spain has some serious financial problems to fix, and that the two Spanish grands prix are located in the two most stricken regions, it is imperative that the country investigate the possibility of scrapping both of their races.
Interest in Formula One is down across Spain. While the poor ticket sales in Valencia and Barcelona can be blamed on the current financial climate, and unemployment rates that top 50 percent in the 18-35 age bracket, the simple fact is that TV viewing figures are also down.
And that in a season that has seen Fernando Alonso drive like his life depended on it, dragging an under-performing car to the top step of the podium in the early part of the season, and delivering consistent points finishes when given a car that was capable of doing the business.
Formula One is too expensive for Spain these days. But rather than abandon the country altogether, the sport would do well to stick to Spain for the pre-season tests, allowing the F1 circus to pump money into the local economy without extracting precious millions for FOM's race-hosting fees.
Save Spain - scrap the grands prix.
It was a glib piece of writing, designed to amuse, but there was grain of truth to my argument - Spain wasn't really in a financial position to host one grand prix, let alone two.
That was nearly three months ago. Regular readers of those dead trees we like to call newspapers will be aware of the fact that Spain hasn't won the EuroMillions in the past ninety days, and that they're getting nasty red letters from their bank manager concerning the size of their monstrous overdraft.
In fact, the argument for scrapping both Spanish races gained traction this week, with the news that the Communitat de Valencia has applied to the Spanish national government for an €18 billion rescue package to be paid for out of the national government's own EU bailout package.
The regional government of Catalunya is said to be next in line to apply for emergency funding - both Catalunya and Valencia have billions of euros in overdue loans, and need government assistance to make the next round of interest payments.
Yup, this is sub-prime lending on a national level. The very notion should strike fear into the hearts of anyone with a penny invested in Spain.
Given that Spain has some serious financial problems to fix, and that the two Spanish grands prix are located in the two most stricken regions, it is imperative that the country investigate the possibility of scrapping both of their races.
Interest in Formula One is down across Spain. While the poor ticket sales in Valencia and Barcelona can be blamed on the current financial climate, and unemployment rates that top 50 percent in the 18-35 age bracket, the simple fact is that TV viewing figures are also down.
And that in a season that has seen Fernando Alonso drive like his life depended on it, dragging an under-performing car to the top step of the podium in the early part of the season, and delivering consistent points finishes when given a car that was capable of doing the business.
Formula One is too expensive for Spain these days. But rather than abandon the country altogether, the sport would do well to stick to Spain for the pre-season tests, allowing the F1 circus to pump money into the local economy without extracting precious millions for FOM's race-hosting fees.
Save Spain - scrap the grands prix.
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