Catalonia Government Unphased By Loss Of Spanish Grand Prix Title

A member of the Barcelona government has expressed strong belief that an agreement will be reached to maintain the Circuit de Catalunya‘s presence on the Formula 1 racing schedule.

Despite the certainty that a glamorous new urban race in Madrid will replace the Spanish Grand Prix title from 2026, Formula 1’s chief Stefano Domenicali has not dismissed the possibility of Barcelona securing a fresh contract.

However, securing such a deal could come with a hefty price tag. Reports from Spanish media indicate that Madrid’s contract for hosting its new Formula 1 event is valued at 60 million euros annually, a figure that more than doubles the fee currently paid by Barcelona.

The Madrid race is said to have the support of Stephen Ross, a billionaire involved with the new Miami Grand Prix, as well as the Hard Rock Stadium and the Miami Dolphins.

El Mundo Deportivo also notes that the financial backing for the Madrid race may include contributions from another billionaire, Carlos Slim, who has long supported the career of Formula 1 driver Sergio Perez.

In spite of these financial considerations, Catalonia’s business minister Roger Torrent conveyed a message of optimism on RAC1, a Catalan radio station, stating on Wednesday that he is “very optimistic” about reaching an agreement to keep Formula 1 at the Barcelona circuit.

“I am convinced that there will be a renewal of the contract,” he insisted. “We have an excellent relationship with Formula 1 and we are working on that basis.

“We will have two fantastic grands prix,” Torrent added. “The best in history.”

When asked how he feels about Barcelona definitely losing the ‘Spanish GP’ official title from 2026, however, he insisted that “for us, the name is not important”.

And the minister is confident the Circuit de Catalunya will be able to match Domenicali’s push for new and existing races to agree very long-term deals – like Madrid’s decade-long contract.

“For us, the longer the better,” said Torrent.

However, he admitted that the Madrid deal has turned up the pressure.

“There is a lot of pressure in general and a lot of competitiveness,” said the minister, “but Formula 1 is comfortable with us. And we don’t pay attention to others.”

As for the rumours of Madrid’s eye-watering 60 million euro deal per race, Torrent answered: “We know where we are and we know where we can go.

“We are modernising the facilities, the infrastructure, which was already needed,” he added, “and we are turning it into the best permanent circuit in Europe and probably in the world.

“We are talking (with F1),” Torrent added. “We have been talking for a long time, but we follow our own rhythm. The relationship between Formula 1 and Catalonia will be decided only by Formula 1 and Catalonia. There is no element that makes us go faster or puts us under more pressure.

“In 2024 we will have a grand prix and as Domenicali himself has recognised, our excellent relationship is the basis that makes us work on the renewal that I am convinced will occur.”

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