collapse

* Welcome

Welcome to GPWizard F1 Forum!

GPWizard is the friendliest F1 forum you'll find anywhere. You have a host of new like-minded friends waiting to welcome you.

So what are you waiting for? Becoming a member is easy and free! Take a couple seconds out of your day and register now. We guarantee, you wont be sorry you did.

Click Here to become a full Member for Free

* User Info

 
 
Welcome, Guest. Please login or register.
Did you miss your activation email?

* Newsletter

GPWizard F1 Forum Newsletter Email address:
Weekly
Fortnightly
Monthly

* Grid Game Deadlines

Qualifying

Race

* Shoutbox

Refresh History
  • Wizzo: The 2024 Grid Game is here!  :yahoo:
    January 30, 2024, 01:42:23 PM
  • Wizzo: Hey everybody - the shout box is back!  :D
    August 21, 2023, 12:18:19 PM

* Who's Online

  • Dot Guests: 137
  • Dot Hidden: 0
  • Dot Users: 0

There aren't any users online.

* Top Posters

cosworth151 cosworth151
16132 Posts
Scott Scott
14057 Posts
Dare Dare
12970 Posts
John S John S
11230 Posts
Ian Ian
9729 Posts

Author Topic: Is Mega bucks the secret for F1 Madrid GP race?  (Read 5249 times)

Offline John S

  • F1 Legend
  • ****
  • Date Registered: Jan 2007
  • Location: Lincolnshire, UK
  • Posts: 11230
  • 11550 credits
  • View Inventory
  • Send Money To John S
  • Max for 3rd title! - to see more Toto apoplexy.
Is Mega bucks the secret for F1 Madrid GP race?
« on: January 25, 2024, 09:38:33 PM »
Have big money private backers enticed Liberty with an eye watering yearly race fee to secure the Madrid GP?

Spanish media outlet TV3 has reported that the figure Madrid could be about to pay F1 is €48 million euros a year, which is $52.1 million USD at current exchange rates.

Over the course of the 10-year contract with Madrid to run the race at the IFEMA complex, that could net F1 over half-a-billion dollars if the figure is accurate.   :swoon:

If true that's Middle East type race fee not usual European cost.  :crazy:

All circuits with 1 or 2 years left on contracts must now be a bit worried.


Racing is Life - everything else is just....waiting. (Steve McQueen)

Offline cosworth151

Re: Is Mega bucks the secret for F1 Madrid GP race?
« Reply #1 on: January 26, 2024, 03:24:04 PM »
Liberty's motto has always been "It's all about the Benjamins!"
“You can search the world over for the finer things, but you won't find a match for the American road and the creatures that live on it.”
― Bob Dylan

Offline Jericoke

Re: Is Mega bucks the secret for F1 Madrid GP race?
« Reply #2 on: January 26, 2024, 03:44:35 PM »
I suppose F1 is a business, and you make the choices that make the most money.  Naturally there is debate if a big pay day up front will lose revenue in the long run, or taking a smaller payment up front will open bigger opportunities in the future.

My question though is... how can a temporary street circuit possibly be a better business deal than a dedicated race track?  Like Silverstone doesn't have to constantly add and remove barriers and grandstands.  They can do repairs to track/facilities on their own schedule instead of cramming everything in quickly (i.e., expensively)

Is it just that the racetrack itself is a loss leader expected to make up the difference with restaurants and hotels?

Offline Alianora La Canta

Re: Is Mega bucks the secret for F1 Madrid GP race?
« Reply #3 on: January 31, 2024, 08:06:13 PM »
Because it's deemed a better political deal. Catalonia is very unpopular with the Spanish central government and there is encouragement (I think all verbal at this point, though I stand to be corrected) for business to specifically support Madrid's projects rather than anywhere else in Spain's projects, to demonstrate "national unity".
Percussus resurgio
@lacanta (Twitter)
http://alianoralacanta.tumblr.com (Blog/Tumblr)

 


SimplePortal 2.3.6 © 2008-2014, SimplePortal
Menu Editor Pro 1.0 | Copyright 2013, Matthew Kerle