For five years, the Formula One circuit came to Valencia in Spain for a Grand Prix event – ending in 2012 – and it is that 2012 event which is under investigation by Spanish officials for corruption.
Specifically, three former local Spanish officials – a regional governor, tourism official and a wealthy shareholder of a local company awarded the rights to host the event – are under scrutiny. In particular, the investigation is focusing on how the aforementioned company [Valmor] was granted event hosting duties for the international event when it had only 12 employees and no prior experience in hosting motorsport events – never mind an event on the grand scale of a Formula One race.
The first race of the 2015 Formula One racing season takes place in Melbourne, Australia on March 15, 2015.