Madrid Mayor Squashes Financial Concerns Ahead Of 2026 F1 Entry

Madrid is preparing to become a host for its very first Formula 1 Grand Prix in 2026, coinciding with the new regulations for the sport.

On January 23, 2024, Madrid’s entry into the Formula 1 calendar was formally announced, securing a long-term agreement with Formula 1 and IFEMA MADRID, the event's promoters, spanning from 2026 to 2035.

More News: F1 Fans Gush Over Lewis Hamilton Photo Beside Fred Vasseur: 'Gonna Write History Together'

Changes to the Formula 1 regulations in 2026 will see cars transformed, becoming smaller, lighter, and more agile in line with Formula 1's sustainability goals. Formula 1 is also committed to reducing its carbon footprint to achieve Net Zero Carbon by 2030, and these changes are designed to align with that objective.

The Madrid street circuit will be located around the IFEMA exhibition center and is designed to be highly accessible, situated just five minutes from Madrid-Barajas Adolfo Suarez airport, with public transport available for an estimated 90% of fans.

Speaking about the progress, Mayor José Luis Martínez-Almeida explained during Europa Press' 'Desayunos Madrid', as quoted by GP Blog:

"We are confident that the works will begin during the second half of this year because we are almost ready for the Formula 1 Grand Prix to be held next year. Therefore, we have to have the circuit and all the infrastructure ready."

One aspect, however, has stirred a bit of controversy, particularly surrounding funding. Critics from opposing political parties have voiced concern over how the costs are being covered, but Mayor Martínez-Almeida has clarified that the event's financing will come through private investments, not from taxpayer money.

More News: Mercedes Confirms Unveiling Date Of 2025 F1 Challenger

The circuit itself will be a 5.4 km street setup featuring 20 turns. All necessary infrastructure must be completed by the summer of 2026 to ensure the race weekend goes ahead as planned.

Nevertheless, the city has encountered some challenges with the selection of a bidder for the construction and obtaining essential bureaucratic approvals, including the City Council’s approval of the special area plan. This particular plan was supposed to be submitted in early January but has been postponed to early February.

In terms of economic impact, projections suggest the event could inject €450 million into Madrid's economy annually. The race is expected to draw over 110,000 fans per day initially, with plans to increase this number to 140,000 as more infrastructure is developed.

It was also revealed in December 2024 that Madrid will also host Formula 2 and 3 races in the future. José Vicente de los Mozos commented at the time:

“At IFEMA Madrid, we are very proud to bring F2 and F3 to our Grand Prix alongside F1, as our goal is to make the F1 Spanish Grand Prix 2026-2035 the best event possible. The FIA F2 and FIA F3 categories are fundamental for the future of the sport, as they produce the future stars of F1. This makes the Spanish Grand Prix 2026-2035 an even more unmissable event, offering fans a complete experience full of talent, spectacle, and excitement, with a unique motorsport offering.”

For the latest F1 news, head over to F1 on SI.

2025 Formula One Season Schedule

Pre-Season Testing

Dates: 26-28 Feb
Location: Bahrain, Sakhir
Event Name: FORMULA 1 ARAMCO PRE-SEASON TESTING 2025
Circuit: Pre-Season Testing

Australia

Dates: 14-16 Mar
Location: Australia, Melbourne
Event Name: FORMULA 1 AUSTRALIAN GRAND PRIX 2025
Circuit: Melbourne circuit

China

Dates: 21-23 Mar
Location: China, Shanghai
Event Name: FORMULA 1 HEINEKEN CHINESE GRAND PRIX 2025
Circuit: Shanghai circuit

Japan

Dates: 04-06 Apr
Location: Japan, Suzuka
Event Name: FORMULA 1 LENOVO JAPANESE GRAND PRIX 2025
Circuit: Suzuka circuit

Bahrain

Dates: 11-13 Apr
Location: Bahrain, Sakhir
Event Name: FORMULA 1 BAHRAIN GRAND PRIX 2025
Circuit: Sakhir circuit

Saudi Arabia

Dates: 18-20 Apr
Location: Saudi Arabia, Jeddah
Event Name: FORMULA 1 STC SAUDI ARABIAN GRAND PRIX 2025
Circuit: Jeddah circuit

Miami

Dates: 02-04 May
Location: Miami, Miami
Event Name: FORMULA 1 CRYPTO.COM MIAMI GRAND PRIX 2025
Circuit: Miami circuit

Emilia-Romagna

Dates: 16-18 May
Location: Emilia-Romagna, Imola
Event Name: FORMULA 1 AWS GRAN PREMIO DEL MADE IN ITALY E DELL'EMILIA-ROMAGNA 2025
Circuit: Imola circuit

Monaco

Dates: 23-25 May
Location: Monaco, Monaco
Event Name: FORMULA 1 GRAND PRIX DE MONACO 2025
Circuit: Monaco circuit

Spain

Dates: 30 May-01 Jun
Location: Spain, Barcelona
Event Name: FORMULA 1 ARAMCO GRAN PREMIO DE ESPAÑA 2025
Circuit: Barcelona circuit

Canada

Dates: 13-15 Jun
Location: Canada, Montréal
Event Name: FORMULA 1 PIRELLI GRAND PRIX DU CANADA 2025
Circuit: Montréal circuit

Austria

Dates: 27-29 Jun
Location: Austria, Spielberg
Event Name: FORMULA 1 MSC CRUISES AUSTRIAN GRAND PRIX 2025
Circuit: Spielberg circuit

Great Britain

Dates: 04-06 Jul
Location: Great Britain, Silverstone
Event Name: FORMULA 1 QATAR AIRWAYS BRITISH GRAND PRIX 2025
Circuit: Silverstone circuit

Belgium

Dates: 25-27 Jul
Location: Belgium, Spa-Francorchamps
Event Name: FORMULA 1 BELGIAN GRAND PRIX 2025
Circuit: Spa-Francorchamps circuit

Hungary

Dates: 01-03 Aug
Location: Hungary, Budapest
Event Name: FORMULA 1 LENOVO HUNGARIAN GRAND PRIX 2025
Circuit: Budapest circuit

Netherlands

Dates: 29-31 Aug
Location: Netherlands, Zandvoort
Event Name: FORMULA 1 HEINEKEN DUTCH GRAND PRIX 2025
Circuit: Zandvoort circuit

Italy

Dates: 05-07 Sep
Location: Italy, Monza
Event Name: FORMULA 1 PIRELLI GRAN PREMIO D’ITALIA 2025
Circuit: Monza circuit

Azerbaijan

Dates: 19-21 Sep
Location: Azerbaijan, Baku
Event Name: FORMULA 1 QATAR AIRWAYS AZERBAIJAN GRAND PRIX 2025
Circuit: Baku circuit

Singapore

Dates: 03-05 Oct
Location: Singapore, Marina Bay
Event Name: FORMULA 1 SINGAPORE GRAND PRIX 2025
Circuit: Marina Bay circuit

United States

Dates: 17-19 Oct
Location: United States, Austin
Event Name: FORMULA 1 MSC CRUISES UNITED STATES GRAND PRIX 2025
Circuit: Austin circuit

Mexico

Dates: 24-26 Oct
Location: Mexico, Mexico City
Event Name: FORMULA 1 GRAN PREMIO DE LA CIUDAD DE MÉXICO 2025
Circuit: Mexico City circuit

Brazil

Dates: 07-09 Nov
Location: Brazil, São Paulo
Event Name: FORMULA 1 MSC CRUISES GRANDE PRÊMIO DE SÃO PAULO 2025
Circuit: São Paulo circuit

Las Vegas

Dates: 20-22 Nov
Location: Las Vegas, Las Vegas
Event Name: FORMULA 1 HEINEKEN SILVER LAS VEGAS GRAND PRIX 2025
Circuit: Las Vegas circuit

Qatar

Dates: 28-30 Nov
Location: Qatar, Lusail
Event Name: FORMULA 1 QATAR AIRWAYS QATAR GRAND PRIX 2025
Circuit: Lusail circuit

Abu Dhabi

Dates: 05-07 Dec
Location: Abu Dhabi, Yas Island
Event Name: FORMULA 1 ETIHAD AIRWAYS ABU DHABI GRAND PRIX 2025
Circuit: Yas Island circuit