Problem Solved
Two months after an alarm was raised directly from the Spanish capital, sparking the kind of political controversy familiar to other countries, the city of Madrid now seems able to breathe a sigh of relief regarding the organization of its ‘local’ Formula 1 Grand Prix, which will join the calendar in 2026.
According to information from the Spanish daily *El Mundo*, the event has secured a sponsor willing to cover most of the costs of organizing the Grand Prix, thus avoiding the risk that the burden would fall on the Madrid community—and primarily its citizens—for what will become the new Spanish Grand Prix. This differs from the model used for the Barcelona GP, which was financed for years with public funds (approximately €35 million annually, *El Mundo* estimates).
A ‘Luxury’ GP
The partnership has been signed with Match Hospitality, a Swiss multinational specializing in VIP services for high-profile sporting events. The agreement involves an investment of €400 million over 10 years. Match will be responsible—according to IFEMA Madrid, the organizer of the GP—for defining the commercial strategy, managing the hospitality aspect of the event, and marketing various packages and exclusive experiences related to the GP across global markets.
The clear goal is to make the Madrid race a ‘VIP’ event, following the trend set by recent additions to the F1 calendar, particularly outside Europe. To this end, IFEMA aims to offer as many as 15,000 VIP seats for the race weekend, making the Spanish capital’s event one of the F1 calendar’s largest providers of high-end ticket options.
Leave a Reply