Madrid’s new deal means that the event leaves the Circuit de Barcelona-Catalunya, which has been its home since 1991, with an uncertain future.
F1’s initial announcement on Tuesday morning made no mention of the current venue.
However, it’s understood that the Barcelona authorities are still in discussions about the future, and that a second event in the country has not been completely ruled out.
A hybrid 5.47km circuit featuring street and non-street sections will be built around the IFEMA fairgrounds and convention centre located to the north-east of the city.
Still subject to FIA approval, the track will feature 20 corners, with a predicted lap time of 1m32s. It will have what F1 calls a “premium” paddock building.
Well-served by public transport, the venue will initially have a capacity of 110,000, which will be increased to 140,000 over the first half of the contract.
Opened in 1991, IFEMA is operated by a consortium of public bodies, consisting of the city council of Madrid (31%), the regional administration of the community of Madrid (31%), the Madrid chamber of commerce (31%) and the Montemadrid Foundation (7%), and thus the local authorities are fully behind the F1 project.
The venue’s boss claimed as long ago as July that a deal had been agreed, but at the time F1 sources insisted that nothing had been signed.
The 10-year deal continues the trend for long-term race contracts, with Madrid joining Australia (2035) and Bahrain (2036) among those that extend furthest into the future.
The Madrid area previously hosted the race at the Jarama circuit on nine occasions between 1968 and 1981.
Photo by: Formula 1
IFEMA Madrid
“Madrid is an incredible city with amazing sporting and cultural heritage, and today’s announcement begins an exciting new chapter for F1 in Spain,” said F1 CEO Stefano Domenicali.
“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 F1’s vision to create a multi-day spectacle of sport and entertainment that delivers maximum value for fans and embraces innovation and sustainability.”
FIA president Mohammed Ben Sulayem stressed that the venue will have a keen focus on sustainability.
“Modern F1 cars racing on a new circuit in the Spanish capital city of Madrid is an enticing prospect,” he said.
“As we build towards the introduction of the…
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