Madrid's F1 dream still on track, Mayor insists

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The Mayor of the city of Madrid, José Luis Martínez-Almeida, has confirmed that preparations for the Spanish capital’s debut Formula 1 race in 2026 are advancing "as planned."

The race, which will mark F1’s return to the Madrid area since the Jarama circuit hosted the Spanish Grand Prix between 1968 and 1981, is set to take place on a brand-new 5.47km hybrid circuit near the IFEMA convention center.

The circuit, designed to accommodate over 110,000 fans daily across grandstands, general admission, and VIP areas, is on schedule for a 14-month construction timeline.

The city council plans to start work on the circuit and supporting facilities in April, with five bids from construction companies and business conglomerates already submitted for the project.

Even if construction begins in May, Martínez-Almeida confirmed there would still be enough time to complete the work ahead of the race’s anticipated September debut in 2026.

“We are working very intensely to make this a reality,” Martínez-Almeida told Europa Press on Monday, assuring F1 fans and stakeholders that the project “will be held and will be a success.”

Private Funding, Not Public Money

Amid political criticism over the project’s financing, the Mayor stressed that the funding would come from private companies rather than public money, although he stopped short of naming the project's private partners.

"The Spanish Government has provided 70 million euros for the America’s Cup in Barcelona, and Catalan institutions spend 50 million euros annually for Formula 1 in Barcelona," Martínez-Almeida countered, adding that Madrid’s F1 efforts would not rely on taxpayer funds.

The Future of F1 in Spain

Barcelona, which has hosted the Spanish Grand Prix at the Circuit de Barcelona-Catalunya since 1991, remains a focal point in F1’s plans.

While Madrid’s 10-year contract signals a major shift, F1 CEO Stefano Domenicali has emphasized that the two cities are not in direct competition.

“The fact we are in Madrid is not excluding the fact we could stay in Barcelona for the future,” Domenicali said last year.

"Looking ahead, there are discussions in place to see if we can really extend our collaboration with Barcelona, with whom we have a very good relationship, for the future."

Read also: Madrid circuit bidding for steepest banked corner in F1

With Madrid’s hybrid circuit and a 10-year deal, the city aims to establish itself as a new F1 hub while potentially sharing the Spanish Grand Prix spotlight with Barcelona.

Spanish F1 Fans can rest assured: the city’s efforts to bring Formula 1 back to Madrid are well underway.

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.