Ifema has reached a collaboration agreement with the multinational Match Hospitality for the design, construction and marketing of the VIP areas in the paddock of the future Madrid Formula 1 Grand Prix. The deal, which Ifema sources confirm to Somos Madrid, involves an investment of 400 million euros and has a duration of 10 years: from the announced start of the competition in 2026 until 2036.
According to Ifema, Match Hospitality will manage 15,000 VIP seats in an investment that “guarantees long-term return”, although they admit that “it is difficult to pay it off in the first year.” They will be in charge of generating tourist packages, organizing catering or coordinating access to these reserved areas, among other functions. All of this in different stages that range from the conception of the project to its exploitation.
At Ifema they do highlight the “collaborative” nature of the agreement and maintain that it does not imply the separation of the public-private organization from those functions assumed by the Swiss company: “We will work together because they have the expertise”.
From Ifema they value that the Central European company has demonstrated its performance “in other modern Grand Prix that, like Madrid, are integrated into the heart of the cities.” They especially mention the case of the British Grand Prix, to which Match Hospitaliy has been linked since 2009. “The participation of Match Hospitality has been key to achieving that something more than Liberty Media at Silverstone. [grupo empresarial que posee los derechos de la gran cita automovilística] wants to add to each race,” they say from Ifema.
Match Hospitality has been linked to a dozen more F1 Grand Prix, in some cases on a one-off or annual basis. It also carries out its activity, always linked to the management of VIP areas, in other sports disciplines such as football, where it assumed these tasks in the Men’s World Cup in Qatar 2022 or the Women’s World Cup in Australia 2023. Along the same lines, it will assume this type of tasks in the Intercontinental final that Real Madrid plays this Wednesday against Pachuca in Doha (Qatar).
First major agreement after Ifema’s million-dollar investment
With this agreement, Ifema obtains its first large private collaborator after an initial investment assumed mainly by the entity itself. To the 47.5 million contemplated in the special plan to build the pavilions, another 3.5 million were added for the management of works.
Ifema’s capital is contributed 31% by the Community of Madrid, 31% by the City Council, 31% by the Madrid Chamber of Commerce and 7% by the Montemadrid Foundation. Thus, 62% of its financing corresponds to public entities, although it has its own operating benefits apart from these contributions.
On the other hand, Ifema has already requested a construction permit for the construction of the circuit and complementary facilities for the F1 Madrid GP “which is intended to be held in September 2026 with a duration of four days,” indicates the text published at the beginning of month in the Official Gazette of the Community of Madrid.
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