F1 Rumors: $54.15 M Investment Leads Barcelona to European GP Title, Makes Massive Comeback after Madrid snatched Spanish GP Tag

Published 01/31/2024, 8:33 AM EST

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via Reuters

There is yet another twist in the tale of the Formula 1 El Clásico. As we all know, Formula One Management (FOM) recently green-lit Madrid’s desire to host the Spanish GP from 2026 onwards. The capital will undergo a massive renovation and will be ready to host the race at the shiny new circuit in the middle of the city in time for the 2026 edition. With many thinking this will be the end of the Circuit de Barcelona-Catalunya, the veteran circuit has pulled a rabbit out of its hat.

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The Barcelona circuit was contracted until the end of the 2026 season. However, F1 could not help but say no to a new project in an attractive location like Madrid, which will feature a hybrid street and traditional style circuit and generate billions in revenue and thousands of jobs. In response, Barcelona is strengthening its already established foothold in the sport to make its spot on the calendar more permanent.

According to reports, Barcelona will invest $54.15 million in renovations and upgrades to the circuit to bring it up to modern standards and compete with Madrid. This decision came after Madrid won the bid to host the future Spanish GP events and secured a 10-year contract despite all the roadblocks.

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According to reports, Barcelona will now invest millions of public funds to renovate the track and add exciting new features to the track. The work began in 2022 and is expected to be finished by 2026. However, if you’re wondering whether the Barcelona circuit will get space on the calendar? The answer is yes. F1 will use the Circuit de Barcelona-Catalunya for the ‘European GP’. 

The European GP has been part of the sport to accommodate a second race in a country on a different track. Barcelona will become a more permanent holder of the European GP nametag, especially after the renovations as the announcement is imminent but will be made, “when it’s time.”

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This possible future of Barcelona in the world of F1 was hinted at by the president of the Royal Automobile Club of Catalonia (RACC) as well. Let us reveal what exactly did he say.

President of RACC reveals how Barcelona will be a part of the calendar despite Madrid snatching the Spanish GP hosting rights

Josep Mateu, the president of RACC, during the MotorSport 2023 Awards Gala spoke about the future of the Circuit de Barcelona-Catalunya. He revealed the circuit is looking for a renewal of five years, adding to its already 30-year-long history with the sport. He also expressed his confidence in the fact that Barcelona will be a part of the circus for years to come.

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via Reuters

“Today, Madrid has presented its Grand Prix, which they will do starting in 2026. We are working to renew ours. For more than a year, we have had meetings and we think that in the coming months, we will have the opportunity to renew our contract for the term we have asked for,” he said during the Awards Gala.

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He added, “It is a lifetime dedicated to Formula 1 and we will fight to maintain the race in the future. Our intention is to extend this contract for at least five years. We are convinced that we will renew this contract for the coming years.” 

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Such confidence could only mean the president was always aware of F1’s desire to shift the Spanish GP to Madrid and give Barcelona the European GP tag. With the number of races increasing every year, so are the chances of both venues hosting a race. We believe the European GP will soon be back and will stay for a very long time.

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Written by:

Mahim Suhalka

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"Chaos is Order yet Undeciphered." - said Noble prize winner José Saramago, essentially meaning the path to success is not always linear and something, I, Mahim Suhalka truly believe in. I have written over 1800 articles in my tenure at EssentiallySports so far making me one of the senior writers in the division.
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Edited by:

Akash Pandhare

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