Domenicali: Strong appetite around the world for our sport

In 2024, F1 will race at 24 venues, the longest calendar of the sport to date, while in 2023 Las Vegas joined the circus as the third race to be held in the Unites States.

Domenicali insists the new deal with Madrid that will host the Spanish Grand Prix between 2026 and 2035 is evidence of the sport's popularity around the world.

Speaking to Formula 1's Official Website, Domenicali said: "It’s great news for Formula 1 as it shows once again that there is strong appetite around the world for our sport.

"It shows that at a moment where Europe is perceived to be a place that is not ready to invest in our sport, Madrid and others are showing it is.

"They have presented a fascinating project, one that will be built in the next couple of years and a project that is considering the fans and their whole experience, from their travel to the whole event experience. The proposition we received from the promoter was great. Since the first day, it has been an open discussion of what this event can be," he explained.

The F1 Chief also sees positives in the fact that the deal with Madrid is for ten races, something he admits the sport is targeting with all promotors.

"I’m very pleased that it’s a deal that takes us to 2035 – it’s a long time," he said. "This is the objective as F1, with either new or more established promoters. It allows everyone involved to plan the future and invest in the future as it is a guarantee for the promoter, for our partners, for our teams and for our sport. It gives everyone long-term visibility.

"If you look at the past, the renewals were two years, three years or five years maximum. Now all our new deals are going in the direction of being very long. And if they are short, there is a reason," he pointed out.

F1's Spanish race is currently being held at Barcelona, a track with a long presence on the sport's calendar, but Domenicali insists the Madrid deal does not spell the end of Barcelona.

He said: "For the avoidance of doubt and to clarify here, the fact we are in Madrid is not excluding the fact we could stay in Barcelona for the future.

“Looking ahead, there are discussions in place to see if we can really extend our collaboration with Barcelona, with whom we have a very good relationship, for the future," he revealed.

“Spain was a market that just a couple of years ago, was not in the centre of our eyes," the Italian went on. "Now it is very important. We signed a new deal with Spanish broadcaster DAZN until at least the end of 2026.

"It’s a nice problem to have, to have multiple cities – some in the same country – wanting to host a Grand Prix. It shows the value of our proposition.

"But we need to keep focused on the reason for our success and make sure we aren’t complacent," Domenicali concluded.

The Spanish Grand Prix for 2024 will take place on June 23 in Barcelona.