MotoGP hopes to keep its Spanish Grand Prix at Jerez until at least 2016, after completing a deal to secure the 2012 race at the venue.
Financial issues at the Jerez circuit had cast doubt over whether it would retain its place on next year's calendar, but motorcycling's governing body released an updated schedule this month which confirmed that the event would go ahead.
MotoGP commercial chief Carmelo Ezpeleta thanked the local authorities for their assistance in securing the Jerez race for 2012, and hoped that a long-term arrangement could now be made.
"We are delighted to confirm that the 2012 Grand Prix of Spain will be held at the Circuito de Jerez, a very special locale for the MotoGP World Championship," said Ezpeleta. "I'd like to thank the Junta de Andalucía and Jerez de la Frontera City Council for their support in working toward securing this iconic event. We'll now look ahead to the future of the event and focus on working together to reach an agreement up until 2016."
Jerez has hosted MotoGP's Spanish round since 1989. It is now one of four races in the country, along with the Catalunya, Aragon and Valencia events.