Europe Aims to Invest in Formula 1: Madrid Sets an Example
Formula 1 has announced the introduction of new street races in Madrid. Starting from the 2026 season, the Formula 1 calendar will include the Madrid Grand Prix. It will be another vibrant city street race in the championship, with the track passing through the historic city centre. This was reported on the Formula 1 website.
The new track in the capital of Spain will incorporate both street and non-street sections, accommodating up to 110,000 fans daily. "This is great news for Formula 1, as it once again demonstrates that there is a strong appetite for our sport worldwide. It shows that at a time when Europe is perceived as unwilling to invest in our sport, Madrid and others demonstrate otherwise," said Formula 1 President and CEO Stefano Domenicali.
The agreement with Madrid is set for ten years, from 2026 to 2035 inclusive. The capacity will be 110,000 spectators per day during the initial races, increasing to 140,000 during the first half of the contract. This will make Madrid one of the most capacious races on the calendar, competing with venues like Austin, Melbourne, and Silverstone.
"This deal takes us to 2035. It is the goal of Formula 1, with new or more well-known promoters. It allows all stakeholders to plan for the future and invest in the future, as it is a guarantee for the promoter, our partners, our teams, and our sport. It provides everyone with long-term visibility," added Domenicali.
After Madrid signed the agreement for 2026, questions arose about the future of races in Barcelona. However, Domenicali states that it is not necessarily the end of their partnership, especially as Formula 1 is experiencing a revival in the country, which currently has two drivers in the standings: two-time world champion Aston Martin's Fernando Alonso and Ferrari driver and two-time Grand Prix winner Carlos Sainz.
Over the past year, the popularity of F1 in Spain has significantly increased. In 2023, the total television audience in this European country reached 77 million, averaging around 3.5 million per race, an 84% increase compared to the previous year.
Earlier, Formula 1 announced that six sprint races would be held in the 2024 season. Sprints will take place at events in China, Miami, Austria, the USA, Brazil, and Qatar.
