Portugal wants a Formula 1 Grand Prix back on its soil. That’s the word from F1 CEO Stefano Domenicali this past Thursday. He confirmed the country’s interest, a desire shared by three other potential hosts. But Domenicali was clear: simply wanting a race isn’t enough. Any bid must come with a serious financial offer that matches F1’s expectations. He also pointed out that F1 currently has many long-term contracts already in place.
These long-term deals help spread out the huge investments F1 makes or plans to make. Lots of places want to host a race. For instance, Zandvoort is set to hold its final Grand Prix under its current deal. This opens up talks for a new addition, possibly including other locations. However, don’t expect many new races to pop up. Domenicali warned there’s only room for one or two more, at most. Barcelona is eyeing that potential opening. Then there’s Portugal, Turkey, and Hockenheim, which just got new management. Domenicali, quoted by ‘Autosport’, stressed one key point for all hopeful hosts: very few spots are open. So, anyone at the negotiating table needs serious financial muscle.
Today’s situation is much different from a few years ago, Domenicali explained. It’s not just about what it takes to join the F1 calendar. It’s also about the massive investments required. He reminded everyone that F1 is heavily focused on sustainability. All race promoters must be ready to support their “Zero Carbon for 2030” plan. Hosting an event that attracts 450,000 to 500,000 people creates big challenges. Think about energy needs, general management, and many other things. F1 is serious about these issues. Promoters must be on board with these goals. Those who aren’t ready won’t get to host a race, he made clear.