The Spanish Grand Prix is set to have its funding from the city of Barcelona cut by 50 percent, according to local media.
The council will reduce its contribution towards the race from 4 million to 2 million Euros this year as part of a move to phase out funding altogether. During the most recent Spanish Grand Prix the circuit announced a new contract to host the race until 2019, though that occurred before the current council was elected.
The first deputy mayor of the Barcelona, Geraldo Pisarello, told Diario Sport the funding decision had been made because "Formula One is not a priority". The council is set to cut its funding completely but has opted to phase out its contribution in order to avoid "damaging consequences".
Pisarello went on to say the council is in talks with municipalities involved to put together a viable business plan to make the Circuit de Catalunya self-sufficient. The circuit has hosted the Spanish Grand Prix every year since 1991.