Madrid will host a Formula A person grand prix from 2026 in a 10-calendar year offer considered to be well worth about £400million.
The announcement was confirmed by F1 bosses this early morning, following a pair of many years of talks with authorities in the Spanish cash. It areas a problem mark more than Barcelona’s continuation on the calendar.
The hosting fees of some £40m, paid to Formulation One particular Administration (FOM), the sport’s homeowners, make it just one of the two most beneficial contracts ever signed for a European race, along with Hungary. Middle Japanese races, nonetheless, can command expenses of £60m-furthermore.
Organisers in Madrid have designed an solely new 20-corner circuit that will ‘incorporate each street and non-road sections’.
‘Following an agreement with IFEMA MADRID … the new 3.4-mile circuit will have a projected qualifying lap of 1min 32 seconds,’ revealed FOM, whose main executive Stefano Domenicali, who brokered the partnership.
Madrid will host a Method One grand prix from 2026 just after agreeing a 10-calendar year offer considered to be really worth about £400million
Chief government Stefano Domenicali confirmed ‘the venue is projected to have ability to host far more than 110,000 admirers per day’
‘Built about the entire world class IFEMA exhibition centre, the circuit will also have a top quality paddock setting up with a race tower and place of work spaces, VIP hospitality and leisure spots. The venue is projected to have capacity to host much more than 110,000 enthusiasts for each day throughout grandstand, general admission, and VIP hospitality.
‘There are plans to expand the circuit’s capacity to 140,000 for each day more than the initial fifty percent of the arrangement, earning Madrid a single of the major venues on the F1 calendar.’
The function will be positioned five miles from Madrid-Barajas Adolfo Suarez airport.
FOM say they are nonetheless in talks with Barcelona’s Circuit de Catalunya, and that there continues to be a probability that Spain might host two races.
The news casts doubt about the position of Barcelona’s Circuit de Catalunya in the calendar
But services at Barcelona, hosts of the Spanish Grand Prix because 1991, have grown drained and it could effectively conclusion up surplus to requirements in an increasingly world wide roster.
Domenicali, who flew out to Spain for this morning’s announcement, explained: ‘Madrid is an remarkable city with remarkable sporting and cultural heritage, and today’s announcement begins an remarkable new chapter for F1 in Spain.’
