Now, The Associated Press seem to have confirmed this, stating that details of the reported multi-year contract are to be announced next week after Madrid city mayor José Luis Martínez-Almeida said that ”some good news” for the city was expected next Tuesday.
Madrid street race on the cards
Although the concept of a spectacular event around the streets of Madrid will be a fresh one for F1, the sport has raced in the Spanish capital on multiple occasions before.
The Circuito Permanente del Jarama held nine F1 races between 1968-1981, before it was deemed to be too narrow for modern racing.
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