Madrid insists work to host F1 Grand Prix is progressing well
The Spanish capital has reached an agreement to join the F1 calendar next year. It insists that work to host the F1 Grand Prix is progressing "as planned".
The mayor of Madrid, José Luis Martínez-Almeida, emphasized that the work to host a Formula 1 race in the Spanish capital is progressing as planned before its debut in 2026.
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A 10-year contract
The city announced that it has obtained a 10-year contract with Formula 1 to host the Spanish Grand Prix on a hybrid circuit designed for this purpose.
The circuit will include urban and non-urban sections around the IFEMA convention center and will have a length of 5.47 km. The goal of the municipality and the race organizers is to begin construction on the facilities and the circuit in April.
Five bids have been submitted, including two from construction companies and three from business groups, to lead the construction of the necessary facilities. The deadline for the completion of the work so that everything is ready for the Grand Prix is 14 months, so even a start in May would give the city some leeway, since the race is supposed to be held in September of next year.
Monday, during an interview with Europa Press, José Luis Martínez-Almeida called for calm and insisted that the race will take place and be a success. He specified that all parties involved are working very intensely to make it a reality and that everything was progressing as planned.
Barcelona will not be removed from the calendar
Although the project’s funding has not yet been announced, José Luis Martínez-Almeida stated that the funding would come from private companies and no public funds would be used.
The mayor also criticized his political rivals who claimed he would use public money for the F1 race, stating: « The Spanish government provided 70 million euros for the America’s Cup to be held in Barcelona, or that Catalan institutions are spending 50 million euros for Formula 1 in Barcelona ».
Barcelona has been hosting the Spanish Grand Prix since 1991, although F1 CEO Stefano Domenicali stated last year that the agreement with Madrid did not mean that the Catalan circuit no longer had a spot on the F1 calendar.
« To avoid any ambiguity and clarify the situation, the fact that we are in Madrid does not exclude the possibility of staying in Barcelona in the future », said Stefano Domenicali.
« Looking to the future, discussions are underway to see if we can truly expand our collaboration with Barcelona, with whom we have a very good relationship, for the future », he concludes.
