F1 contract with Madrid “will be signed”, says Ifema president

Series currently has agreement with Barcelona until 2026.
  • Madrid looks set to host F1 from 2027
  • Event would generate around €500m per year
  • MotoGP rumoured to be interested in joint weekend with F1

José Vicente de los Mozos, president of the executive committee of Ifema Madrid, has revealed a contract “will be signed” with Formula One.

He has declined to reveal when due to a confidentiality agreement, but said he knows “when we are going to sign it and when we are going to do it”, as reported by Spanish news agency Europa Press.

The plan would see the race held around the fairground of the Ifema Madrid exhibition centre. The event would generate around €500 million per year for the city of Madrid.

Formula One’s current contract in the country is with the Circuit de Barcelona-Catalunya, with the most recent agreement expiring in 2026.

The circuit has long been plagued with rumours of being replaced, despite holding a place on the calendar since 1991 and being a regular venue for testing.

But, de los Mozos indicated that Madrid’s goal to be on the Formula One calendar does not necessarily mean it is looking to replace Barcelona.

He added: “If in the end there are two [races], I'm delighted, but I speak and work for Madrid.”

However, the likelihood of Formula One agreeing to two races in Spain, especially with its desires to expand to new markets and the ever-increasing size of the calendar, is slim.

Reports surfaced in April that Formula One was exploring Madrid as an option for the future and that 2027 was the likely year it would debut.

In recent years, organisers at the Spanish Grand Prix have faced criticism for failing to cope with the size of the crowds. Formula One bosses made the race promoter aware that the situation is not acceptable and must be fixed for next season.

However, the Circuit de Barcelona-Catalunya was also ranked as the most sustainable racing circuit in the world in a report by Enovation Consulting and Right Hub last year. Moving away from the circuit would mean the best three ranked circuits will have all been dropped from the Formula One calendar in recent years.

De los Mozos also revealed that plans are not just limited to Formula One, with the objective to make Madrid “the world reference” for motorsport events.

Reports have suggested that MotoGP is interested in a combined weekend with Formula One in the Spanish capital, and this would line up as its own agreement with the Circuit de Barcelona-Catalunya also expires in 2026.

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