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Spanish GP set for reduction in funding
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The Spanish Grand Prix is set to have its funding from the city of Barcelona cut by 50% in 2016. Local media reports the council will reduce its contribution towards the race from 4million to 2million from this year, as part of a move to phase out the funding altogether. The first deputy mayor of Barcelona, Gerardo Pisarello, told Diario Sport the decision has been taken because "Formula 1 is not a priority". The Circuit de Barcelona-Catalunya underwent a rebranding to incorporate the city's name in 2013, and during last year's Spanish Grand Prix announced a new contract to host the race until 2019. However, that deal came before the current council was...
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