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Almeida estimates that F1 will generate 8,000 jobs in Madrid starting in 2026: “We have done things well”


01/16/2024 January 16, 2024, Madrid, Madrid, Spain: Jose Luis Martinez Almeida, mayor of Madrid, seen smiling at the event called “Desayuno Informativo” promoted by the Europa Press news agency at the Hotel Rosewood Villa Magna in Madrid . SPORTS Europa Press/Contact/Alberto Gardin

The mayor of Madrid, José Luis Martínez-Almeida, has estimated that 8,000 jobs will be generated by the arrival of the Formula 1 Grand Prix in the capital from 2026 and has praised that the different Madrid institutions involved in promoting this circuit have done “things well”. In an interview on ‘Antena 3’, collected by Europa Press, one hour before the official presentation ceremony of the Madrid Formula 1 urban circuit, the mayor highlighted that it will be a Grand Prix that will be “practically within the city”, ten minutes from the airport, in the vicinity of Ifema Madrid, and where 90% of spectators will be able to reach by public transport, with an economic return of 500 million euros per year. Furthermore, he recalled that there is no investment of public money but rather a public promotion through the Ifema Madrid consortium, and that it will be a private organizer who assumes the risks. “We have worked on a scheme in which the public and the administration would be the promoters and we could organize the grand prize, but that the organization would be within the framework of public-private collaboration,” he praised. Regarding the compatibility of this new circuit with the one hosted by Catalonia in Montmeló, the mayor has defended that the Madrid Grand Prix is ​​not “against anyone” and is not “a Madrid Grand Prix against Catalonia, far from it.” “You don’t have to understand it in that key. Madrid is at the service of everyone and, therefore, the opportunity arose for us to be able to opt for the organization of a Grand Prix and it is in those parameters that we have worked, not in seeking a confrontation. Formula 1 will be the one who has to say the possible compatibility that there may be with Catalonia”, assured Martínez-Almeida, who highlighted that Formula 1 has considered that Madrid is a “suitable venue” for this award. A “TRIUMPH” FOR MADRID Regarding the role of the central government in this sense, the councilor has indicated that in Madrid they are “aware” that the Government of Spain “can hardly” be an ally for the region and the capital to host large projects . “Having said that, for me what we have to put the emphasis on is the triumph that it means for the city of Madrid, for the Community of Madrid and the triumph that it means as a society for Madrid that we can have this Formula 1 Grand Prix” , he praised, while considering that this is “a recognition” of the moment that the city of Madrid is experiencing. When asked about the absence of senior government officials and ministers at the presentation of this circuit, Almeida assured that he will be present through representatives of the Higher Sports Council, but he asked not to get into this type of controversy and that Madrid residents feel “proud” of what they have achieved. “That is the true message that I want to convey, a message of hope, hope, optimism and confidence in what together we are capable of doing,” he expressed.



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