The mayor of Madrid has rubbished criticism labelled at the future Spanish Grand Prix host over the financing of the event.
In 2026, a street track in the Spanish capital is set to take over the grand prix from the Circuit de Barcelona Catalunya, which has held the Spanish GP since 1991, with the track winding around the IFEMA entertainment complex. It first hosted the F1 Exhibition.
It is set to enjoy a 10-year contract to host the Spanish GP. Mayor José Luis Martínez-Almeida, however, has criticised political opponents for claiming public money will be used to finance the race.
"The left does not care that the Spanish government has put 70 million euros into the America's Cup to be held in Barcelona," he told Europa Sports.
"Or that the Catalan government put 50 million euros into Formula 1 in Barcelona."
He then issued a firm declaration that the race "will not cost the public coffers any money," indicating that private investors and backers will finance the event.
As for the preparations ahead of the race, Martínez-Almeida gave a positive update on the progress being made.
"We are almost there for the Formula 1 grand prix to be held next year, therefore, we have to have the circuit and all the infrastructure ready," he continued.
"We are working very hard to make it a reality, and it is progressing as planned."
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