Madrid’s 2026 Formula 1 race faces financial hurdles as it struggles to attract necessary private investment.
The new Formula 1 race set to take place in the streets of Madrid in 2026 has yet to attract private investors.
This week, officials from Madrid’s city hall admitted that the city’s event organizer, Ifema, would incur losses related to planning the race this year and in 2025.
“It has been confirmed that there are no qualified partners able to meet the stringent requirements,” stated Engracia Hidalgo, the city’s head of economy, innovation, and finance.
Earlier this year, Formula 1 announced a long-term contract with Ifema, jeopardizing the future of Barcelona as the current host city of the Spanish Grand Prix after 2026.
“Once Ifema secured the rights and various management formulas were analyzed and assessed, it’s true that we signed the management contract, and essentially because of the number of additional clauses we added, we did not find the company that originally wanted to transfer this risk,” added Hidalgo.
However, she insists that the Madrid GP will eventually “have a significant economic impact on the city and will be profitable—but not immediately.”
“The expected profits from Ifema’s current activity in 2024 and 2025 will offset the negative results of Formula 1 during these two years, and the remaining years will then be profitable for Ifema.”
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Madrid F1 GP Struggles to Secure Funding Madrid F1 GP Struggles to Secure Funding
