Madrid announces that it will sign an agreement to host a Formula 1 Grand Prix in the coming years
The Ifema asserts that Madrid is going to sign a contract with Liberty Media to host Grand Prix races, despite Stefano Domenicali's wish to have only one Grand Prix per European country.
Formula 1 should make a stop in Madrid in the coming years. This is what José Vicente de los Mozos, president of the executive committee of Ifema Madrid, an entity responsible for organizing events in Madrid, claims.
« I know when we are going to sign it and when we are going to do it. I know when we are going to sign it and when we are going to announce it, explained the president of Ifema on Spanish media AS, without revealing the date due to a confidentiality agreement with FOM and Liberty Media.
The Spanish capital plans that a Grand Prix would generate 500 million euros per year. The track will take shape around the Madrid exhibition center. Vicente de los Mozos had announced, during the Forum Nueva Economía, that he also wanted to make Madrid become the global reference for motor sports events.
Before being able to organize a Formula 1 Grand Prix in Madrid, Spain already has a national Grand Prix that takes place in Barcelona. Ifema would like to have two Grand Prix in Spain: « If in the end there are two, I am delighted, but I speak and work for Madrid ». An idea that goes against the statements made by Stefano Domenicali, who does not want multiple Grand Prix in the same country in Europe.
Despite the Formula 1 president’s wish, the process to organize the Grand Prix in Madrid is legal. We have followed the process that was indicated to us. The Spanish Automobile Federation was informed from the start, we signed an exclusivity agreement in December and now we are progressing on the contract, specified Vicente de los Mozos to AS.
