IFEMA unveils the cost of the construction of Madrid's new F1 circuit
The public-private consortium has tendered the contract to build the new track, whose cost is estimated to reach 137 million euros.
Madrid will have its Formula 1 Grand Prix in 2026.
This week, it has been revealed that IFEMA has tendered the contract to construct the new circuit of the capital of Spain. The cost of the works is initially set at 137M euros. This expenditure is in addition to a prior investment of another 51 million allocated by the public-private consortium for various purposes.
It should be noted that the first event is scheduled to take place in September 2026. Therefore, steadily but surely, the foundations are being laid to open a contest. And by next January 10th of the upcoming year, it will be known which construction company will undertake the building of the brand-new track for the Madrid Formula 1 Grand Prix.
Grand Prix for a decade
This is what the F1 track in Madrid will look like. This is what the F1 track in Madrid will look like. The construction of this new facility will begin in the spring of 2025. The work is divided into three areas: the fairgrounds, the streets of the capital, and a new plot in Valdebebas. And it must be kept in mind that they must be finished on time, already in 2026, to carry out the Grand Prix.
Furthermore, it is still emphasized that private financing is secured (the Swiss firm Match Hospitality will invest 400 million euros in the Madrid Circuit). No public entity will need to spend money on this project. That was the initial intention, and it persists in the same philosophy imposed from the start.
In the initial idea, it is envisaged that the track will be 5.474 kilometers long, have 20 curves, and the qualifying lap will be 1 minute and 32 seconds. It is hoped that the venue can accommodate more than 110,000 spectators. Lastly, it should be noted that Madrid expects to host this Grand Prix for at least a decade (from 2026 to 2035).
The new Formula 1 circuit in Madrid is projected to create approximately 8,200 jobs. You can get the latest jobs in Formula 1 here.
