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VALENCIA, Spain (AP) - Valencia will stage the European Grand Prix starting next year after Formula One chief Bernie Ecclestone signed a seven-year contract with event organizers on Friday.
The Valencia regional government confirmed that Ecclestone signed the agreement with Valmor Sport, which owns the rights to organize the street circuit race. The regional government has a 25 percent stake in the private business.
The agreement to bring a second F1 race to Spain after the Spanish GP in Barcelona was announced May 10.
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