F1 has officially designated IFEMA MADRID as the organiser of the Spanish Grand Prix from 2026.

The 10-year agreement spans 2026 to 2035, and will reportedly result in annual revenues of €450 million for Madrid and create around 8,200 jobs.

The draft circuit concept, pending FIA homologation, will be 5.474 km long, with 20 corners and a qualifying lap of 1 minute and 32 seconds.

The maximum speed that cars will be able to reach on this circuit is 300kph and an average speed of 218kph.

The route would use the roads of IFEMA MADRID, both the current fairgrounds and the future roads of the Valdebebas site, as well as 1.5km of public roads.

The project will include more than 200,000 sqm of covered pavilions, 10,000m of multi-purpose meeting spaces, and 10,000 parking spaces.

The project will add new buildings to the site including two buildings that will extend halls 1 and 2 to house the more exclusive Paddock Club which will be operated and marketed by IFEMA MADRID for its regular activity during the rest of the year.

The Madrid F1 race is expected to attract 110,000 spectators at the time it begins in 2026, and will likely exceed 140,000 by the fifth year.

IFEMA MADRID’s facility will be connected to the public transport network. It will be located within the city itself, five minutes from the airport and will have access to the metro, local trains and city buses. Around 90 per cent of the visitors to the race are expected to use the public transport to get to and from the circuit.

Stefano Domenicali, president and CEO of Formula 1, said, “Madrid is an incredible city with amazing sporting and cultural heritage. I would like to thank the team at IFEMA MADRID, the Regional Government of Madrid and the city’s Mayor for putting together a fantastic proposal. It truly epitomises Formula 1’s vision to create a multi-day spectacle of sport and entertainment that delivers maximum value for fans and embraces innovation and sustainability.”

José Vicente de los Mozos, president of the Executive Committee of IFEMA MADRID, added, “Our dream of hosting a major F1 event around IFEMA MADRID has come true. We are thrilled to announce the return of F1 to Madrid after more than four decades. We have the ambition to organise a Grand Prix that will become a reference in the F1 worldwide calendar, specifically conceptualized and designed to offer a distinctive and unique experience for both fans and teams participating in the competition. With this, Madrid wants to deep dive into the development of a new concept that combines sport and entertainment, while delivering a memorable event.”