It is official! The Spanish Formula 1 Grand Prix will be part of the 2020 World Championship

calendar. The news was confirmed this Tuesday by the signatories of the agreement, the Circuit of Barcelona in one hand (which includes the Catalonian government, the Royal Automobile Club of Catalunya -RACC- and the Montmelo townhall), and the American company that owns Formula 1, Liberty Media. 

Both parts have decided to extend the contract, which expires at the end of 2019, for another year. The Circuit of Barcelona will, therefore, host another Grand Prix next season, the 50th of such race and 30th consecutive one since 1991.

The good news has finally put an end to the flow rumours regarding the permanence of the Spanish appointment in the 2020 calendar; rumours that had intensified since the news of Holland and Vietnam joining the circuit next season. 

The Spanish race is one of the most traditional ones of the championship where sport legend such as Ayrton Senna and Michael Schumacher have featured in some of the best races in history. It would be a real shame if it disappeared. 

Chase Carey, president of Liberty Media, has spoken about the new agreement: “We are pleased to confirm that the Formula 1 Grand Prix will be on the calendar of the 2020 FIA Formula 1 World Championship. The decision to continue to stage a round of the pinnacle of motorsport in Spain, a country with a great motor racing tradition, dating back to the start of the last century, is part of our strategy of maintaining Formula 1’s European roots”.

“The promoter’s willingness to be part of Formula 1 going into 2020 is proof of the sport’s ability to act as a catalyst for regions to hold world-class events and also to have a positive impact on the area’s economy. In the coming months, we will continue our discussions to see if we can further extend this advantageous relationship.” – continued the American CEO -.

One of the other key players involved in the negotiation was Quim Torra, President of the Catalonian government, who has also expressed his satisfaction with the agreement: “Catalonia will be, for the 30th time in a row, host to a Formula 1 Grand Prix. Catalonia is a place with a very long tradition in motorsports, and therefore, we are pleased to have strengthened our position as a classic event in the calendar for fans all around the world.”

“Throughout the 30 years, we have integrated this event in the industrial policies of the Government, and the Formula 1 Grand Prix at Circuit de Barcelona-Catalunya is an important tool to stimulate the economic activity in the country in terms of tourism, as well as in the automobile and entertainment industries. For all of these reasons, we welcome the continuity of Formula 1 in our home (…) We are well aware that our current challenge is to make sure that the Circuit de Barcelona-Catalunya keeps up maintains this role, both as an economic driver and as a link to our sports and industrial tradition.” – continued the Catalan politician -.

The economic impact of the Spanish Grand Prix of Formula 1

The Formula 1 Grand Prix of Spain generates very important revenues for the region every year, around 163 million euros in 2019. The 160,428 spectators that attended the event this year spent an average of 1,000 euros per person. The city of Barcelona attracted the biggest share of that revenue with 28.4 million euros, spread mainly across the hospitality, catering, leisure and transport sectors.

The Spanish Grand Prix of Formula 1 also has the potential to generate 2,754 employment opportunities, but its impact is not only economic but it also boosts the international projection of the region. The sporting event is covered by over 900 different media, bringing the world focus on the Circuit of Barcelona, as well as in Catalonia.

Images of ‘Spanish Formula 1 Grand Prix’: Circuit of Barcelona-Catalonia.