Madrid GP eases 2026 F1 concerns by signing construction deal

Organisers of Formula 1's Madrid Grand Prix have eased concerns over the race's timeline by awarding a tender for the construction of the hybrid street circuit.

On Tuesday a contract was signed with Spanish construction firm ACCIONA (60%) and France's Eiffage Construction (40%), who will form a joint venture to construct the 5.47km circuit close to Madrid's Barajas airport, around the IFEMA fairgrounds.

In January Madrid mayor Jose Luis Martinez Almeida announced works on the circuit would start in April, but delays in the procurement process - which Motorsport.com understands involved five bidders - meant the event was starting to come under pressure to get ready in time for its planned September 2026 debut.

The latest deadline to start construction has now been set for early May, with it understood the start of the works can't be delayed much longer to ensure a realistic 14-month timeline. Motorsport.com has learned building permits are set to arrive next week, and that work should begin soon after that.

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"We are going to grant the licence and in principle we should be able to start in May for the F1 circuit to be able to host it for the 2026 season," Almeida told Telemadrid.

"At last, after more than 40 years, Formula 1 will return In this case to the streets of Madrid, because it will be a street circuit, which is in line with what F1 wants: urban circuits.

"We offered them that possibility, they accepted, and therefore the people of Madrid will be able to enjoy Formula 1 in 2026. But the best proof that it is going to take place, I insist, is that in May work will begin on the circuit."

Madrid will take over the Spanish Grand Prix moniker from Barcelona, which is currently set to host its last race in 2026 unless it can secure a new contract. Out of the current 24 races Imola's Emilia Romagna Grand Prix is all but guaranteed to lose its slot on the calendar.