23 January 2024 , 09:30
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Madrid will take over the Spanish Grand Prix from 2026, placing Barcelona's future in Formula 1 in serious doubt.
The Madrid race is set to join the annual race calendar from the 2026 season, though it will be officially named the Spanish Grand Prix. A 10-year deal has been signed which guarantees its place on the annual schedule until 2035.
Initial reports about talks over the event emerged last year but went quiet, until last month when a breakthrough led to assertions that a deal was close. The Grand Prix was officially announced on Tuesday at an event at the IFEMA convention centre, to the east of the Spanish capital.
The venue hosted the inaugural F1 Exhibition last year and will feature as part of the new track layout. The street circuit, designed by Italian firm Dromo, will feature 20 corners and incorporates the M-11 motorway while running next to Real Madrid's Valdebebas training complex.
F1 chief executive Stefano Domenicali said: "Madrid is an incredible city with amazing sporting and cultural heritage and today's announcement begins an exciting new chapter for F1 in Spain.
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"I would like to thank the team at IFEMA MADRID, the Regional Government of Madrid and the city's mayor for putting together a fantastic proposal. It truly epitomises Formula 1’s vision to create a multi-day spectacle of sport and entertainment that delivers maximum value for fans and embraces innovation and sustainability."
With F1 chiefs not currently looking to go beyond 24 races per season, the price for Madrid’s inclusion on the calendar looks likely to be paid by Barcelona. The Circuit de Catalunya has been the home of the Spanish Grand Prix since 1991, and the famous track has a contract to remain on the annual schedule until 2026.
But, beyond that, it is unlikely that Spain will host multiple races per year. Currently, only the USA (3) and Italy can boast of more than one annual F1 event. Discussions continue with officials continue over the future of the venue on the calendar.
The new Madrid track will have the initial capacity to welcome more than 110,000 fans every day, though the plan is to grow that number to 140,000. It is hoped that 90 percent of those visitors will travel via public transport, which will contribute to making the new event one of the most sustainable Grands Prix of the year.
FIA president Mohammed ben Sulayem said: "It is pleasing to see that the local organisers have placed a sharp focus on environmental sustainability in their plans for the event. As is customary, the proposed circuit will be subject to FIA homologation and safety checks and calendar approval by the World Motor Sport Council."