Barcelona’s $50 Million Investment in F1 Racing and Infrastructure

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News Team

The Circuit de Catalunya in Montmeló has recently undergone a major renovation, with the addition of new features and elements at a cost of 50 million, all of which is public investment. The works began two years ago and are part of a larger framework for the period 2022-2026. The goal is to position the circuit as the best in Europe among permanent and multidisciplinary tracks, in order to attract more championship events.

The new management team is ambitious and under pressure to meet the standards set by F1, with the aim of announcing the renewal as soon as possible. The relationship with Liberty, the company that owns F1, is excellent, and there is confidence that the renewal will be announced on the calendar at the same time as the new capital layout. This will demonstrate to citizens that the area is worth investing in, particularly in terms of improving and developing the circuits.

The renewal has not been officially signed, but there is a strong desire from both parties to make it happen. There is almost complete political consensus in support of the route, which bodes well for the future of the circuit. The General Manager of the circuit, José Luis Santamaría, and the general secretary of the Department of Business and Labor of the Generalitat, Oriol Sagrera, have presented the remodeling of pits, roofs of trunks, the Control Tower, and box floors, as well as a new VIP walkway that will connect the paddock with the interior stands.

The circuit is preparing for the MotoGP World Championship event in May and Formula 1 in June, where the new features will be showcased. Despite the upcoming change in the name of the event, the circuit is confident in its ability to continue attracting large audiences. The circuit’s hybrid management model, with 12% ownership from the RACC, has been successful in attracting investment and generating economic impact. The direct tax collection from F1 events alone is already greater than the 50 million invested, and the indirect economic impact of the circuit being open 330 days a year is estimated to be around 250 million.

Image Source: amp.marca.com

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