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Madrid’s mayor and PP candidate, Jose Luis Martinez-Almeida, evaluated the discussions with Ifema and the Formula 1 project this Wednesday, noting that the talks are progressing well for the capital’s bid to host a Grand Prix. Yet he declined to offer a concrete probability percentage about the likelihood of the event taking place, emphasizing that outcomes will depend on a range of evolving factors and negotiations that are still unfolding.

The remarks followed a late-March update from José Vicente de los Mozos, who chairs the Ifema executive committee, confirming that Madrid’s bid for a Formula 1 Grand Prix had been placed on the table and that several racing teams had shown interest. Almeida spoke at a breakfast briefing organized by Europa, where he framed the conversation around the strategic value of Formula 1 as a major international showcase. He argued that hosting a grand motorsport event could significantly elevate Madrid’s global profile by attracting large-scale audiences, media attention, and related economic activity.

With Juanma Moreno, the Andalusian president, present in the audience, Almeida highlighted the broader appeal of attracting top-tier events. He pointed to Andalusia’s experience hosting the Latin Grammys in Seville as a proof of the region’s capacity to stage world-class gatherings and to generate substantial visibility for the host area. The Latin Grammys, he noted, underscore how regional leadership can translate event momentum into lasting prestige, a logic he said aligns with Formula 1 and similar flagship sports. He added that Ifema’s ongoing discussions with Formula 1 are a multi-month negotiation process, and while no percentage can be guaranteed, the signs point toward a promising trajectory for Madrid’s potential Grand Prix, especially given the recent pace and interest from sovereign and private partners alike.