Bernie Ecclestone has revealed that the organisers of the Spanish Grand Prix at Barcelona would like to alternate with the European Grand Prix at Valencia.

As a result of the financial crisis in Europe, both races are believed to be under threat after government officials in the respective cities admitted they would have to assess the viability of major events. Now Ecclestone has said that the two races could alternate to save money, with Barcelona being the instigator of such a solution.

"What's been talked about more is that Barcelona would like to alternate with them (Valencia)," Ecclestone told the Financial Times. "Maybe it's a good thing. Maybe it's the way to go."

The Valencia government hinted at such a move in early January, with vice president Jose Ciscar admitting a complete cancellation of the contract could prove too expensive.

"With contracts signed, we can't be imprudent because the penalty could cost us more. We have to find balanced solutions."