F1 venue may lose its Grand Prix due to lack of finance

The Spanish Grand Prix was one of the earliest to host the newly founded Formula one series in 1950. The following year the inaugural F1 event was held along the wide streets of the Pedralbes street circuit in Barcelona.

A lack of funds meant the race was cancelled for the next two seasons, but returned inn 1954 with Mike Hawthorn ending Ferrari’s dominance. The Le Mans accident in 1955 meant new regulations deemed the circuit unsafe in Spain and the Spanish Grand Prix was not held again until 1968.

With two suitable circuits in Monjuic and Jarama, the event was held at each in alternative years. The 1975 event was marked by tragedy and before the cars hit the circuit,. Concerns over safety were raised.

 

 

 

Potted history of failed F1 circuits

Drivers and teams threatened to boycott the Monjuic event and so the organisers panicked and threatened to lock the cars away in the nearby stadium. The race finally went ahead but when a wing broke from Rolf Stommelen’s car killing four spectators, the race was abandoned on the 29th lap.

But the Spanish Grand Prix at Jarama was then also dropped from the racing calendar after being cancelled in 1982 because the organizers seemed more interested in the golf course near the circuit, and because of the narrow track, unpleasantly hot late June conditions, and small crowd at that year’s race; it would only return in 1986.

The mayor of Jerez commissioned a new circuit to be built in the south of Spain, to promote tourism and the world famous regional product of sherry. The circuit held the Spanish Grand Prix for five years between 1986-1990 then a lack of popularity with the crowds saw the promoters pull the plug.

A new track was being built at the time in Barcelona, and the Circuit de Catalunya/Barcelona hosted its first F1 race the year before the iconic 1992 Olympics in the city. And from then to now, Barcelona has been the home of the Spanish Grand Prix.

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New F1 circuit built for 2026

From 2013, the Spanish Grand Prix was due to alternate every year between Catalunya and the Valencia street circuit, however, this did not happen—Valencia dropped out for financial reasons and Catalunya remained the sole host of the Spanish Grand Prix.

Then came the news this season, that Madrid had been awarded the Spanish Grand Prix from 2026 onwards. The new venue is set to be part street circuit and part permanent layout and will be built in the city’s IFEMA exhibition centre area, which also hosts Real Madrid’s sporting facilities.

10 miles outside the city centre, the new track is ironically not far from the site of the Jarama circuit. “Madrid is an incredible city with amazing sporting and cultural heritage, and today’s announcement begins an exciting new chapter for F1 in Spain. 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,” said F1 president Stefano Domenicali in January as a ten year deal to host the Spanish Grand Prix was announced.

Of course the first question on F1 fans lips was, “what is happening with Barcelona?” Even more intriguing is the fact that Barcelona has a current contract which runs to and includes 2026. With just 24 race weekends currently allowed under the Concorde Agreement, its not clear what the intention was for 2026, but Barcelona was expected to be dropped after that with Madrid truly in pole position.

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No investors for new Madrid circuit

Yet fans of the current circuit in Montmelo will feel a reprieve may be coming their way. News from Madrid suggests that the race has failed to attract the necessary investors the city officials believed would cough up. 

Madrid City Council has admitted that potential investors have shown little interest in putting their funds into the race, but the the Council still assures the readers that the race will make a profit. Yet without the investors the business plan presented to F1 just does not work.

Publication Soymotor, reports an update on proceedings in Madrid. ”Once IFEMA obtained the rights, analysed and evaluated the various management formulas, it’s true that we drafted the management contract, and mainly due to the number of additional clauses we put in place, we did not find a company initially willing to take on this risk,” Engracia Higaldo said, who is the head of the Department of the Economy.

Clearly having seen other cities bitten by a lack of finance, Valencia being the last Spanish city to fold its F1 ambitions, Madrid needs finance to complete the project and partners to sponsor the race weekends.

“Russell is faster than Hamilton”

 

 

 

Exciting circuit layout with 30 degree banked corner

The Madrid councillors original plan would see the track completion in May 2026 and the plans at the launch raised excitement amongst drivers and fans alike. There will be four main areas to overtake, and the main straight of the Madrid track will be 700 metres long. 

But the thing that will make the Madrid circuit unique in modern open wheel racing is a 30 degree banked corner which is far more banking than Indycar uses at any of their tracks.

The highest banking in F1 is at turn 3 in Zandvoort where the incline  reaches a maximum of 18 degrees. The FIA has expressed some concern over the angle of the banking and could yet insist it is reduced.

The circuit is supposed to be the most eco friendly on the F1 calendar, which given F1’s net zero agenda may have been one of the keys reasons it got the nod earlier this year. Yet if the investors do not step up, the Madrid council must take the risk and start work on the circuit as a failure to deliver on time will see their ten year contract nil and void.

Lawson in line to lose seat to Hadjar

 

 

 

Ricciardo ‘reneged on Red Bull deal’ says Marko

Daniel Ricciardo is unusual in Red Bull’s F1 history of drivers. The Aussie left the current world champions to race for the works Renault team in 2019 but returned four years later as just a reserve driver.

No other driver has been welcomed back into the Red Bull fold after departing and Ricciardo should have been the last person the team considered in 2023, following revelations from Dr. Helmut Marko.

The ‘honey badger’ as he became affectionately known inside and out of the paddock won eight Grand Prix and of the current drivers on the grid, only Lewis Hamilton, Max Verstappen, Fernando Alonso and Valterri Bottas have won more F1 races… READ MORE

 

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With over 30 years of experience in Formula 1 as an insider journalist, I have built trusted connections across the paddock, from race engineers and mechanics to senior team figures. At The Judge 13, I and a handful of trusted colleagues share exclusive Formula 1 news, expert analysis and behind-the-scenes stories you will not find in mainstream motorsport media.

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