First breakdown on the Madrid circuit. The City Council recognizes that, ten months after the announcement of the event, no company wanted to take chargeThis was confirmed by Engracia Hidalgo, from the economic sector of the City Hall, who said that no company had dared to “take this risk.”
Meanwhile, the bills are paid by IFEMA, the consortium of mainly public fairs. They are already at 51 million, according to what has been compiledThe opposition calls the arrival of Formula 1 ruinous and dares to predict the final bill, estimating an expenditure of 2 billion euros.
Madrid wants to avoid following in the footsteps of Valencia, a circuit that only provoked the Generalitat a 300 million holeaccording to his own calculations. But the reality is that there are already parallels; the then president, Francisco Campssaid the circuit would be released “at zero cost,” something Ayuso and Almeida reiterated.
In both cases, public money is circulating to be able to bring in the drivers. In the worst case, Madrid hopes to repay it over the years, the same wish that Valencia also had. In the end, it was not 50 grands prix that were contested, as Camps had promised, but only five. For the moment, Madrid has signed a dozen and only time will tell if it lives up to its promise.
