F1 News: Mayor plays down rumors of 2026 Madrid GP problems

(GMM) The mayor of Madrid (pictured) has played down rumors the city may not be ready to welcome Formula 1 next year.

Mayor Jose Luis Martinez-Almeida declared this week that although the sport is yet to set the calendar for 2026, the first event “will be held in September”.

The issue, however, is that a current delay means construction works on the area around the Ifema venue fairgrounds cannot begin until the end of April.

Spanish newspapers say the tender process is currently held up, amid speculation of problems with the joint financing of the project by both the city of Madrid and private investors.

Mayor Almeida, however, told Europa Press: “The race will take place, and it will be a success.”

But he warned: “Formula 1 is just around the corner, and we need to have the circuit and all the facilities ready. Everyone involved in this project is working very hard to make it happen.”

The mayor insists that the project is proceeding “according to plan”, reminding critics that similar recent projects in Miami and Las Vegas were also completed in the nick of time.

The deadline for construction companies to submit their tender applications expired earlier in January, and there were reportedly five offers submitted for the originally 137 million euro process.

The outcome is not yet known, nor is there a firm date set for construction to begin. However, mayor Almeida said he wanted to pass on “tranquility to the people of Madrid, because Formula 1 is going to be a success.

“Ifema and the community of Madrid are working very hard to make it a reality.”