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The figures with which the Madrid GP wants to be “the best in F1”: 500 million returns, 10,000 jobs, 54,000 tourists…

He Formula 1 Madrid GP It has been a reality since this Tuesday, January 23, the date chosen for its presentation at Ifema Madrid, whose infrastructure will be the epicenter of the new test on the calendar. The event was attended by, among others, Stefano DomenicaliCEO of Formula 1; José Vicente de los Mozos, president of Ifema Madrid; in addition to Isabel Diaz Ayusopresident of the Community of Madrid or José Luis Martínez-Almeida, mayor of the Spanish capital. It will be the official kickoff for a test that will be related to Formula 1 for a decade.

Madrid enters the calendar, Catalonia fights not to fall

In the absence of official confirmation, The Madrid GP would enter the calendar from 2026which would indirectly affect the maintenance of the Spanish GP held at the Barcelona-Catalunya Circuit, at least, also, for two years. The regulations allow for expanded testing, but “we could already have more than 30 today, even 32, because everyone wants one,” Domenicali commented. The idea is to make the most of all the gaps in an increasingly saturated sports agenda.

However, this is in contrast to another statement that the F1 CEO himself made in an interview with ‘As’ and that he would not allow the Madrid GP and the Spanish GP to coexist: “I don’t think that in the medium term, after 2026, Let’s be in that situation of having two races in Europe in the same country unless something changes and is differentDespite this, Pere Aragonès, president of the Generalitat, defended in the run-up to the presentation of the race in Valdebebas (Madrid) that Catalonia does not intend to give up its place in the calendar.

Pere Aragonés refuses to give up Formula 1 in Catalonia despite his arrival in Madrid: “Sometimes we are a bit provincial”

Interviewed by ‘Catalunya Radio’, Aragonés assured that “we are moving forward and working positively” to achieve an agreement with F1. “Sometimes we are a little provincial. There is no need to look to one side all day. We have many assets and we must vindicate them,” he added. Meanwhile, the promoters of the Madrid GP, as in the entire process, continue on their independent roadmap to conceive the “best grand prix of the Formula 1as Ayuso declared in an interview with ‘El Mundo’.

Checo Pérez, Mexican Red Bull driver, during an exhibition that took place in Madrid in the summer. RED BULL

Who is behind the Madrid GP of 100% private investment?

For the City Council and the Community of Madrid, the presentation of the event that will mark the return of the ‘Great Circus’ after 45 years of absence, is the culmination of a long-term process. A blow to the table that increases the attractiveness of the capital as a venue for major sporting events. The leader of the council, José Luis Martínez-Almeida, announced this Monday that Formula 1 will leave an economic return of 500 million euros per edition.

“This shows the moment that the city is experiencing, home of such an extraordinarily prestigious competition from a sporting point of view. With all the international repercussion it has, it has decided to have a headquarters in the capital. It is something that the people of Madrid can benefit from. feel proud,” claimed Almeida, for whom the new Grand Prix conveys that “Madrid is that place where you have to be in the worldbecause it is a pole of attraction.” The Community’s forecast is that it will generate “close to 10,000 direct jobs, in addition to all the indirect ones” thanks to the arrival of new hotels, chains or establishments that will be created as a result of the grand prize.

Ayuso defends that all this will be possible without “costing public money” to Madrid, because, unlike what happened with the ill-fated European GP in Valencia or even the Spanish GP in Barcelona-Catalunya, the promoters of the event of the capital assure that it is a 100% private initiative. Among the names related to this game are himself José Vicente de los Mozoswho also presides over Ifema and is CEO of Indra, Stephen Ross, owner of the Miami Dolphins and promoter of the Miami GP and the organizer of the Netherlands GP; or the businessman Carlos Slima close friend of the Mexican driver ‘Checo’ Pérez (Red Bull), who participated in a ‘show’ in Madrid during the summer.

A stand at Fitur 2023 held in Ifema (Madrid), which will be the epicenter of the future Madrid GP. RICARDO RUBIO / EP

The Madrid GP, in line with the rise of urban circuits

The future Madrid GP is seen in the mirror of the American events. In fact, a delegation traveled to Miami to design a proposal that wants to transcend what happens on the track. The idea is to develop a program of activities and leisure that has Ifema as its center of operations. Quick access from the Barajas airport and the hotel spaces that will be provided to Valdebebas, the district that will host the grand prize, will attract 120,000 attendees. Of them, 54,000 will be international tourists, 30,000 from other parts of Spain and the rest citizens who live in the city hosting the test.

The Madrid Hospitality Association expects that turnover in restaurants and nightlife will exceed 29.5 million euros during the three days that lasts the grand prize signed for a decade. Precisely, it is a model that differs from the more traditional concept that Montmeló champions and that must change to continue in the programming. In fact, a third of the races will be on urban or semi-urban circuits like Valdebebas.

In the expenses section, The Madrid GP will pay a fee that is between 15 and 55 million for the circuits that are already on the calendar. The works to transform Valdebebas into an approved circuit could cost close to 100 million euros and would begin this summer. Ifema would be the epicenter and a route of just over five kilometers would be deployed through the streets of the northern district of Madrid that would put the Spanish capital at the center of world sport.

Stefano Domenicali, CEO of Formula 1, at the opening of the competition exhibition in Madrid. FORMULA 1

2024-01-23 06:51:10
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