P1racenews AI automatic summary:
Madrid is set to take over hosting duties for the Spanish Grand Prix from 2026, with the mayor defending the race.
The mayor of Madrid has dismissed criticism of the future Spanish Grand Prix host regarding the event’s financing. The street track in the Spanish capital is scheduled to replace Circuit de Barcelona Catalunya in 2026. The track will wind around the IFEMA entertainment complex, which first hosted the F1 Exhibition. The Spanish GP will be held on this track under a 10-year contract. Mayor José Luis Martínez-Almeida refuted claims that public funds would be used for the race’s financing, stating that private investors and backers would cover the costs. He provided a positive update on the preparations for the event, confirming that the circuit and necessary infrastructure are nearly complete as planned. The mayor emphasized the diligent work being done to ensure the successful realization of the Formula 1 grand prix in Madrid next year.
