The Formula One motor-racing series has reached an agreement for the Spanish Grand Prix to remain on the calendar for its 2020 season.
F1 signed the agreement with the Circuit de Barcelona-Catalunya – a partnership formed by the Government of Catalonia, the Real Automovil Club de Catalunya (RACC) and the Montmeló Town Council.
The Spanish Grand Prix will celebrate its 50th year on the F1 calendar in 2020, with the first edition of the event taking place at Barcelona’s Pedralbes street circuit. The Montjuich street track then alternated hosting the race with the Jarama circuit near Madrid, before the grand prix moved to Jerez de la Frontera from 1986 to 1990. It has been held at the Barcelona-Catalunya circuit since 1991.
The Spanish Grand Prix has attracted 510,556 fans over the past three years but its future on the F1 calendar had been in doubt amid financial concerns. Local government funding has now been assured, paving the way for the event to return in 2020.
F1 chairman and chief executive Chase Carey said that discussions will continue in the coming months over the possibility of further extending the hosting agreement beyond 2020.
Carey added: “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 One’s European roots, while also currently expanding the championship into new territories.
“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.”
F1 has already added races in the Netherlands and Vietnam to the 2020 schedule, while it has recently agreed deals to continue staging grands prix in Mexico, Australia and the UK.