At the beginning of last year, Madrid has secured a 10-year contract to host the Spanish Grand Prix from 2026, with the race set to take place on a hybrid circuit combining street and permanent sections around the IFEMA convention centre.

The track will measure 5.47km (just over three miles) and is scheduled for September, a shift from Spain’s traditional springtime slot. Local authorities therefore have 14 months to complete the necessary construction, with work expected to begin in April. However, there is still some flexibility, as even a May start would leave enough time to meet the deadline.

A key issue yet to be resolved is which organisation will oversee the construction. Five offers have been submitted—two from construction firms and three from business conglomerates. The decision will rest with the race organisers and the city council.

Speaking to Europa Press on Monday, Madrid mayor Jose Luis Martinez-Almeida reassured the public, urging them to stay "calm" and insisting the event "will be held and will be a success." He emphasised that all involved parties were working "very intensely to be able to make it a reality" and that progress was proceeding "as planned".

One major point of contention has been funding. While the specific financial structure has yet to be revealed, Martinez-Almeida stated that the project will be financed by private companies and will not rely on public money.

Madrid’s arrival on the calendar also raises questions about the future of the Spanish Grand Prix in Barcelona, which has hosted the event since 1991. However, F1 CEO Stefano Domenicali has maintained that Madrid’s inclusion does not necessarily mean the end for the Circuit de Barcelona-Catalunya.

"For the avoidance of doubt and to clarify here, the fact we are in Madrid is not excluding the fact we could stay in Barcelona for the future," he said.

"Looking ahead, there are discussions in place to see if we can really extend our collaboration with Barcelona, with whom we have a very good relationship, for the future."