F1 News
Did F1 choose Madrid because of this? 'They pay twice as much as Barcelona'
It was recently announced that the Madrid Grand Prix will become part of the Formula 1 calendar starting in 2026. A 10-year contract has been agreed. But why did F1 choose the Spanish capital over an already-established race track?
'Madrid pays F1 double that of Barcelona'
According to Catalan TV3, Formula 1's choice, whose boss Stefano Domenicali attended the announcement, has everything to do with money. The Madrid GP organiser are said to pay just under €50 million a year for a spot on the calendar, bringing the deal to a total of some €500 million.
The reported amount is almost double what the Barcelona-based organisation can raise to host the Spanish Grand Prix, making the Madrid GP the most expensive European race on the F1 calendar. According to the Catalan medium, the GP at the Ifema site will have to find investors and government support to recoup the investment.
Incidentally, the Circuit de Barcelona-Catalunya may not rule out keeping a place on the calendar beyond 2026, although the race will no longer be known as the Spanish Grand Prix. According to organisers, talks are still taking place with the FOM, but more money is being requested.