Madrid will contribute twice as much money as Barcelona to host the Spanish Grand Prix
While Madrid has just officially announced its entry into Formula 1 starting from 2026, the Catalan television channel TV3 claims that the capital of the country will pay 48 million euros to Formula 1, compared to the 25 million euros paid by the Barcelona circuit.
It has been official for a few days now, the Spanish Grand Prix will be held in Madrid starting from 2026. This arrival coincides with the desire of Liberty Media to organize Formula 1 races in vibrant cities around the world with strong commercial interests. Miami in 2022 and Las Vegas last year are blatant examples of this.
Contrary to American cities, the circuit in the Spanish capital will not be completely urban and will be on the calendar for the next ten years. 100 million euros will be invested for the track to be created. Meanwhile, the event could generate up to 500 million euros per year, according to IFEMA.
48 million euros to participate in the championship against Barcelona’s 25.
But Madrid’s investment is not limited to the expenses for building the circuit. The Spanish media TV3 claims that the city will pay 52.1 million euros to F1, which is 48 million euros to host the top category of motor racing.
If the number turns out to be accurate, Formula 1 would receive a total of over half a billion dollars with this contract that lasts until 2035. This amount, paid by the Spanish capital, is twice as much as the 25 million offered by Barcelona to host the Grand Prix until 2025.
The increase in entry costs for the Grand Prix will eventually be beneficial for the various teams on the grid, as they share a portion of the F1 revenues based on their performance in the previous season’s constructors’ championship.
With the presence of the Gulf countries, who pay a hefty price for their F1 tickets, and now Madrid, with a more lucrative contract than Barcelona, the teams could get even more money in the years to come. In 2022, Formula 1 generated over 2.5 billion for Liberty Media, and the year 2023 is expected to be even more prosperous for the American group and the teams.
