On 22 June 2022, few had taken Madrid's candidacy to host a Formula 1 Grand Prix too seriously. Less than 2 years later, everyone had to change their minds.
This morning Formula 1 and the promoters of the IFEMA event, in the person of José Vicente de los Mozos, announced that from 2026 the capital of Spain will host a Formula 1 Grand Prix.
The race, which will be held in the city of Madrid, will be yet another member of a calendar now full of events that bring Formula 1 cars onto the roads that ordinary people use every day to go to work, to reach loved ones, to walking or visiting the place.
The city route will measure 5.47 kilometers using commonly used roads and others which, however, will be built specifically for the event around IFEMA, which is located north-east of the Spanish capital. The track, which is still under FIA approval, will consist of 20 corners and the lap time should be around 1'32″.
IFEMA, an important conference and convention center in the capital, is a place large enough – even counting the streets surrounding it – to be used and host a Formula 1 race.
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It is managed by a consortium of public bodies, made up of the City of Madrid (31%), the regional administration of the Community of Madrid (31%), the Chamber of Commerce of Madrid (31%) and the Montemadrid Foundation (7%) .
It had been clear for several months that IFEMA was serious. de los Mozos had already declared: “I know when we will sign the contract and I know when we will compete.”
“We followed the process indicated to us. The Spanish Automobile Federation was informed from the first moment, we signed the exclusivity and now we are proceeding with the contract.”
Over the last few weeks the contract has been signed and the Madrid Grand Prix will be held from 2026. It will be an important year, because in the same season the last Grand Prix should also be held at the Circuit de Catalunya-Barcelona, better known like Montmelo.
The Catalan track has hosted the Spanish Grand Prix for many years now, but with the inclusion of the Grand Prix in Madrid, things are destined to change. In 2026 the name of the events will change to the Catalan Grand Prix for Montmelò and the Spanish Grand Prix for Madrid. Then attention will shift to the Circuit de Catalunya, to understand if the promoters will try and succeed in extending the contract or if, instead, the track located a few steps from Granollers will be destined to go out of business.
Returning to Madrid, the race weekend is expected to generate €500 million for the region, according to event promoters. Important revenues for a Formula 1 even more devoted to aiming for money. She will have to be careful not to go beyond the permitted limit, because forgetting the sporting aspect could lead to the collapse of the house of cards erected in recent years.
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