Bernie Ecclestone has revealed that Barcelona and Valencia are almost certain to share the Spanish Grand Prix on an alternating basis from next season.

With interest in F1 in Spain on the decline, not to mention the economic crisis that still grips much of Europe, especially in the south, the news was widely anticipated. Despite the hype, the Valencia street track has never been popular with fans or drivers, however, Ecclestone is keen to keep it on the calendar.

Talking to the Spanish media, Ecclestone says that organizers at the two tracks have agreed a deal in principal. "Barcelona and Valencia have agreed that the best thing is to alternate and now we are trying to decide on the dates," he told the Spanish radio station Cadena Ser. "It's simply a way for us to try and help Valencia and if by alternating with Barcelona it helps them, then that's a good solution.

"Obviously, the year Valencia does not host the event it would not have to pay anything," he added.

"We are negotiating and we have a positive attitude," Vicente Aguilera, president of the Barcelona circuit told Marca. "In part because Bernie thinks it is a good idea, and also because we have to find something that is sustainable for the country. At this moment nothing is agreed. We are negotiating and there has to be a three-way agreement."

Both this year's Spanish events are unaffected by the negotiations and will go ahead as planned.