Jerez will stage a round of MotoGP in 2012 even though it faces around €45 million in debts which stem back more than ten years after construction work finished in 2001 hasn't been paid for and the circuit also reportedly owes Dorna a substantial amount.

The mayor of Jerez, Maria Jose Garcia-Pelayo, has been in touch with Dorna ringmaster Carmelo Ezpeleta and the race, slated for the end of April, is set to go ahead even though contracts are yet to be signed and the debt has no chance of being paid off.

According to our mates at Motomatters.com, who understand Spanish and everything, the amount of money the event brings into the local area is far too big to be sacrificed even though Spain is facing the same financial abyss as neighbour Portugal and the rest of Europe (except Germany, for some reason).

The Spanish government has already been forced to make massive cuts in order to try and stabilise an out-of-control economy, and there is no chance of central government throwing the Andalucian area a lifeline to set the debut right.