Spanish businessman claims Formula 1 will race in Madrid

Madrid is reportedly set to take over the Spanish Grand Prix and host a Formula 1 street race.

Alejandro Agag, a Spanish businessman and boss of Formula E, has claimed Formula 1 will make its way to the Spanish capital of Madrid in the near future.

Agag has been in talks with Madrid as the Spaniard pushes for negotiations concerning Formula E, suggesting he has a good insight into the proposed plans for Formula 1 move to the Spanish capital.

When speaking with Spanish newspaper Marca, Agag gave his opinion on such matters.

“I think Formula 1 is going to Madrid,” he said.

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“The rumours I’m hearing are good, I think they’re doing very well,” he added. “I see it as very feasible.

“I can’t tell you if it’s done or not because I’m not Formula 1, but what I hear is that it’s going very well. So it looks like it.”

As of yet, there is no concrete evidence of such a move, but the prospect of a street circuit in Madrid is surely something to get excited about.

The current Spanish Grand Prix host Circuit de Catalunya, near the city of Barcelona, has a contract expiring in 2026 which could mean a move the Madrid is on the cards.

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The Circuit de Catalunya was constructed in 1991 and hosted its first Spanish Grand Prix the same year.

Intriguingly, the out-of-contract Aussie Daniel Ricciardo still holds the fastest lap record with a time of 1:18:441.

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The track itself is abundant in high and low-speed corners featuring a tricky turn 3.

Last year’s Spanish Grand Prix ended with an all too familiar conclusion.

Max Verstappen and Sergio Perez completed yet another Red Bull 1-2 as George Russell came in third.