The Formula 1 Madrid Grand Prix enters the "final phase" of negotiation

MADRID, 5 Dic. (EUROPA PRESS) -

The Formula 1 Grand Prix in Madrid is closer to being able to be held as the award is in the "final phase" of the negotiations, which would cause the departure of the Spanish GP at the Montmeló circuit from the calendar and the return of the 'great circus' to the capital of Spain more than 40 years later.

The decision to hold the Formula 1 Madrid GP from 2026 "has not yet been definitively confirmed", and is currently in the "final phase" of the negotiation, according to sources from the Community of Madrid consulted by Europa Press. . If the negotiations between Liberty Media and Ifema Madrid prosper, Formula 1 would land in Madrid from 2026, thus replacing the Spanish GP held in Montmeló.

According to the newspaper 'El Mundo', the announcement was scheduled for last Thursday, but some final technical issues have delayed it. Furthermore, sources from Ifema Madrid have confirmed to Europa Press that "progress is being made" on the agreement, but that "the final decision is a matter for Formula 1", and that "when the time comes" to tell it, they will do so.

The Madrid Grand Prix would be held on a semi-urban circuit that would be located around Ifema Madrid and the Valdebebas area. It would be the return of the largest motorsport competition in the world to the Spanish capital more than 40 years later. It will be an event that will be financed 100% from private companies, and will have an economic impact for Madrid of around 500 million euros annually.

The information is made public just a few hours after the president of the Higher Sports Council (CSD), Víctor Francos, commented at the Barcelona Equestrian Circle that he understood "the concern" of Catalonia about "losing the Formula 1 Grand Prix ". Furthermore, he added that "for the first time" there is "an alternative to Barcelona", but that Formula 1 is a private business and that it "sells its rights" to whoever offers "a better offer."