Madrid GP Expects $5Bn Boost & 8200 Jobs Created From F1 Race if Local Politics Don’t Play Spoilsport

Thanks to the skyrocketing popularity of Formula 1, everyone wants to get a piece of this money-making pie. There are teams, tracks, and people doing everything, trying to become part of the circus. However, it’s easier said than done, and we’ve seen multiple examples of it. Despite that, throwing their name in the highly competitive circuit roulette, the Spanish GP has a new suitor.

Madrid has now become increasingly interested in bringing the circus to the capital of Spain. It’s also not a new desire because many Madrid politicians have been attempting to lure the circus to the city. Their desires received a boost when they got the green light from the FIA to build a circuit. However, the city has yet to pull out the chequered flag as it is unable to cross the red tape. To push the envelope, the president of the Community of Madrid made a compelling argument recently.

City officials of Madrid make a compelling argument to lure the Spanish GP to the capital

Community of Madrid President Isabel Díaz Ayuso raised the agenda once again during the Madrid Assembly held this Thursday. She highlighted the monetary, economic, and employment repercussions of hosting a Grand Prix. She made her argument more compelling by projecting revenues in the reign of $5 billion while the build-up to the weekend would generate 8200 jobs. As reported by Marca, she also called out the local politics for blocking such a prospering project.

“Formula 1 is great news for Madrid. I don’t know any capital or city in the world that says no to F1. That only happens in Madrid, where the left opposes any initiative, since if it is good for Madrid, it is bad for its interests,” she began. “F1 is great news because it shows that Madrid is fashionable in the world, a place where investment wants to reach. We estimate that it will mean around 4.5 billion euros for the Madrid economy, it will mean the creation of 8,200 jobs.“

President Ayuso shed light on the audience figures as well, saying, “It will also allow 850,000 tourists get to know Madrid first and then the rest of Spain. 119 million people would follow us every year, 70 million on television, and 49 [million] through the internet. It is a unique opportunity to promote Madrid as a business place and, above all, to improve our image as an international sports capital.” [Translated via Google]

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Ayuso made a compelling argument to bring F1 to Madrid instead of Barcelona. After they’re done constructing the track, it will be difficult to ignore the new circuit, especially after the public and incessant requests. However, if Circuit de Barcelona-Catalunya does lose out to Madrid in this F1 circuit roulette, there will be one driver who would be upset.

Lewis Hamilton expresses his desire to keep the classic Barcelona circuit on the calendar

The Spanish GP is on the calendar till 2026. The Circuit de Barcelona-Catalunya almost always favors Mercedes, even its most troubled W13. However, apart from that, the Barcelona circuit is a classic and shares a long history with the circus. Keeping all of it in mind, Mercedes man Lewis Hamilton expressed his desire to race in Barcelona as Madrid circuit talks became more evident.

Hamilton expressed his love for the circuit and the city and put the circuit on an elite list of tracks that need to remain on the calendar for their rich history.

He said, “I don’t think I would want to lose Barcelona. One, I love the city. I do think it’s really important we keep some of the classic circuits. At least the ones that provide great racing. Budapest is spectacular. Silverstone is spectacular. This track [in Barcelona]. There are a lot of really great traditional circuits that we should keep.”

However, Hamilton can’t win this battle alone, and in the end, it will be down to F1 owners and the FIA to replace the circuit. It will be interesting to see which track will emerge as the home for the Spanish GP in the near future.