Madrid will replace Barcelona as host of the Spanish Grand Prix from 2026.
The race will be held on a new 5.47 km (3.399 mi) circuit around the Ifema Exhibition Center between the Spanish capital and Barajas Airport.
Formula 1, which aims to cut greenhouse gas emissions to zero by 2030, says it will be “one of the most accessible races on the calendar”.
A statement said that 90% of fans will be able to travel to the race via public transportation on metro lines and trains.
The deal, which runs until 2035, means Madrid will host the country's Grand Prix for the first time since 1981, when the Jarama Circuit, 20 miles north of the capital, last held the event.
It has been held at the Circuit de Barcelona-Catalunya since 1991, and was at Jerez in Andalusia from 1986 to 1990. The Spanish Grand Prix was first held in 1913, making it one of the oldest races.
Formula 1 is still in discussions with Barcelona about the future, and there is still the possibility of hosting a race in addition to Madrid, said Stefano Domenicali, Formula 1 president and CEO.
Formula 1 said the new Madrid track, which will have 20 turns, will feature sections of street circuit and road course.
It said it would be able to host 110,000 fans per day initially with plans to expand capacity to 140,000. This would make it one of the biggest venues on the F1 calendar.
After a period of declining interest at the end of the last decade, Formula 1 has witnessed a renaissance in Spain in recent years.
This can be attributed to the return of two-time world champion Fernando Alonso, the national champion, to the sport after a two-year break in 2019 and 2020, and the presence of Carlos Sainz as a front-runner with Ferrari.
Sainz was the only non-Red Bull driver to win a race in 2023, when he triumphed at the Singapore Grand Prix.
“Madrid is a wonderful city with an amazing sporting and cultural heritage, and today’s announcement begins an exciting new chapter for Formula 1 in Spain,” Domenicali said on Tuesday.
FIA President Mohamed Bin Sulayem described the race as an “tempting prospect”, adding: “As we move towards the introduction of the 2026 FIA Formula 1 regulations, which have been drawn up with a net zero carbon by 2030 in mind, it is pleasing to see “Local organizers have placed a strong emphasis on environmental sustainability.”
“Madrid’s fantastic proposal truly embodies Formula 1’s vision of creating a multi-day spectacle of sport and entertainment that provides maximum value for fans and embraces innovation and sustainability,” Domenicali said.
