F1 CEO Stefano Domenicali says the plan for circuit contract negotiations is for more extended deals after Madrid was put on the schedule until 2035.
Madrid being added for 10 years follows a recent trend of extending deals well into the 2030s as Formula 1 looks to install some solidity into the calendar.
The reason for this, Domenicali says, is to allow promoters and organisers a better chance to be sustainable while also focusing on long-term planning.
Madrid contract the blueprint going forward, says Stefano Domenicali
F1 circuits used to be lucky to get more than three or four years added to their deal at any one go, with even the likes of the historic Spa circuit signing a two-year deal last October.
But for other venues, they have been granted much longer contracts with the likes of Bahrain and Australia extended until 2036 and 2037 respectively.
“I’m very pleased that it’s a deal that takes us to 2035 – it’s a long time,” Domenicali said of the Madrid addition.
“This is the objective as F1, with either new or more established promoters. It allows everyone involved to plan the future and invest in the future as it is a guarantee for the promoter, for our partners, for our teams and for our sport. It gives everyone long-term visibility.
“If you look at the past, the renewals were two years, three years or five years maximum. Now all our new deals are going in the direction of being very long. And if they are short, there is a reason.”
Domenicali also spoke of how Spain has become more of a focus of F1 after he admitted that it was “not in the centre of our eyes.”
“Spain was a market that just a couple of years ago, was not in the centre of our eyes,” says Domenicali. “Now it is very important. We signed a new deal with Spanish broadcaster DAZN until at least the end of 2026.
“It’s a nice problem to have, to have multiple cities – some in the same country – wanting to host a Grand Prix. It shows the value of our proposition. But we need to keep focused on the reason for our success and make sure we aren’t complacent.”
This rise in popularity was no doubt due to the emergence of Carlos Sainz but also the return of Fernando Alonso to the fold, who Domenicali hopes has been given extra enthusiasm with Madrid added.
“[I hope it] will be a motivation for Carlos Sainz Jr. and Fernando Alonso, to remain strong for the immediate future.” Domenicali is quoted as saying at the launch of the Madrid GP. “Racing is important, but also technology and sustainability. And the Madrid project is very innovative and imaginative.”