Ifema Madrid, a top trade fair operator in Spain and a leading organisation in the European events industry, has reached an agreement with Formula 1 under which Madrid has been granted the right to host the Spanish Grand Prix from 2026 until 2035.

The long-term contract signed, the announcement of which was made on January 23, by Stefano Domenicali, President and CEO of F1, and José Vicente de los Mozos, Chairman of the Executive Committee of Ifema Madrid, will provide, among other advantages, the horizon to ensure the return on investment, and consequently favours the economic viability of this project, undertaken exclusively with private capital.

The project presented by Ifema Madrid to F1 to serve as the venue and promoter of the Spanish Grand Prix is based on its proven capacity to host large-scale events, organisational flexibility, financial solvency, and the versatility, equipment and perfect location of its venues, among other important competitive advantages, a statement said.

The conceptualisation of the new circuit combines sport and spectacle, which will make it a benchmark on the international calendar.

The technical draft of the circuit concept and its facilities, developed by Dromo, and pending FIA homologation, comprises, as explained by Jarno Zaffelli, founder and CEO of Dromo, a 5.474 km long track, 20 curves, a qualifying lap of 1 minute and 32 seconds, and a maximum speed of 300 km/h and 218 km/h average.

The route would use the roads of Ifema Madrid, both the current fairgrounds and the future roads of the Valdebebas site, as well as just 1.5 km of public roads.

The project will benefit from exceptional facilities, never before imagined at the service of a Grand Prix – more than 200,000 sq m of characteristic covered pavilions; 10,000 metres of multi-purpose meeting spaces, and 10,000 parking spaces.

All the infrastructures are equipped with the latest technology and advanced security, communication and air-conditioning systems that will make it possible to raise the standards of the experience for both participants and passionate Formula 1 fans, creating spaces never before seen in the competition, such as a covered and air-conditioned paddock or large areas for activating experiences for fans.

The materialisation of the project will in turn add new buildings to the site, such as two buildings that will extend halls 1 and 2 to house the more exclusive Paddock Club, among other infrastructures, which will be operated and marketed by Ifema Madrid for its regular activity during the rest of the year.

Regarding the attendance capacity, it is estimated to start with 110,000 spectators, to exceed 140,000 in the fifth year.

In addition, the Grand Prix will exceed F1's sustainability requirements, with the proposal of a carbon neutral event, fully aligned with F1's sustainability, diversity and inclusion policy. In this sense, accessibility is one of the most valued and differential points.

With the starting point at the Ifema Madrid facilities, it will be the best connected by public transport of the entire competition, with a hitherto unknown accessibility. Integrated in the city itself, 5 minutes from the airport and with access to an efficient transport network, with the Metro at the foot of the circuit, local trains and city buses, it has been estimated that up to 90% of the fans will access the venue by public transport.

Why Madrid in the F1 World Championship?

But undoubtedly the main argument for the decision to bring the Spanish Grand Prix back to Madrid has been the set of characteristics offered by the city and its region, such as its lifestyle, its extensive cultural and leisure agenda, its fine cuisine, its hotel facilities and its hospitality, as well as the safety and quality of its services.

Madrid, in turn, will be impregnated with multiple activities and entertainment initiatives linked to F1, coinciding with the celebration of the Grand Prix from 2026.

In this regard, and taking into account the estimate of the more than 85,000 tourists that would land in the region on the occasion of the celebration of an F1 Grand Prix, and according to the preliminary study carried out by the consultancy firm Deloitte, its celebration would mean annual income for Madrid of more than 450 million euros, with an impact on job creation of more than 8,200 jobs, to which would be added the relevance of its contribution in terms of brand image, with annual audiences of more than 1,550 million.

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. 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.”

Mozos said: “Our dream of hosting a major F1 event around Ifema Madrid has come true. We are thrilled to announce the return of F1 to Madrid after more than four decades. We have the ambition to organise a Grand Prix that will become a reference in the F1 worldwide calendar, specifically conceptualized and designed to offer a distinctive and unique experience for both fans and teams participating in the competition.

“With this, Madrid wants to deep dive into the development of a new concept that combines sport and entertainment, while delivering a memorable event.” – TradeArabia News Service