A major political row has erupted in Valencia following the news that the city's hopes of hosting a Formula One Grand Prix are conditional on president Francisco Camps retaining his seat in the regional elections later this month.

Speaking at a press conference yesterday, Bernie Ecclestone said: "The contract will not be signed until after the election, but I'm convinced it will happen."

This has incensed political rivals of Camps who claim he is making political mileage out of the promise of a Grand Prix.

The ruling Socialist Party (PSOE) in Madrid has already made an official complaint to the electoral commission, claiming that the agreement is an insult to the people of Valencia.

According to reports, Valencia is paying Ecclestone £17.7m a year for the right to host a Grand Prix, on a street circuit which has yet to be finalised by Hermann Tilke. It's understood that Ecclestone was adamant that if Valencia were to host a race it would be on a street circuit and not the nearby (purpose built) race track.