Aug.27 (GMM) Valencia's new formula one street race is likely to be renamed the Mediterranean grand prix for 2009 and beyond.

With the European grand prix title probably needing to return to the Nurburgring event next year, due to the race name ownership saga in Germany, F1 chief executive Bernie Ecclestone hinted last month that Valencia could adopt official 'World grand prix' status from now on.

But the authoritative Swiss publication Motorsport Aktuell said the Mediterranean grand prix moniker is actually the most likely outcome for Valencia from 2009.