Fira de Barcelona signs agreement to develop events at Circuits de Catalunya

Fira de Barcelona and Circuits de Catalunya have signed an agreement under which the newly formed company Fira Circuit, wholly owned by Fira de Barcelona, will operate and manage the activity of Circuit de Barcelona-Catalunya starting January 1, 2025.

This agreement, approved today by the Board of Directors of the Circuit, follows what was approved on 16 April when the Government of Catalonia authorised Circuits de Catalunya to directly confer Fira a lease for the operation and management of this infrastructure's activity.

The decision is part of the Circuit de Barcelona-Catalunya’s strategic plan, approved in October 2022, which aims to improve management efficiency, strengthen the commitment to digitisation, become a reference in sustainability and diversify activities.

The contract is for 20 years and involves a payment from Fira Circuit combining a fixed annual amount (a guaranteed minimum of €9m in 2025 and €10m in 2026) and a variable based on revenues (25% up to €45m in revenues and 20% thereafter). The agreement also ensures the workers of Circuits de Catalunya will keep their employment conditions.

The aim of the Catalan Government is focus the facilities’ activity not just on major motor competitions, but to introduce new business models related to fairs and congresses, as well as leisure, music and cultural events.

The new alliance will not affect the ownership of the F1 and MotoGP contracts, which will remain the property of Circuits de Catalunya.

Jaume Collboni, president of the General Council of Fira de Barcelona and Mayor of Barcelona, said: “The diversification of the activity of Circuit de Barcelona-Catalunya, as a result of the new agreement, will bring new uses for the infrastructure that will take pressure off the city of Barcelona and will provide new opportunities in the metropolitan region.”

Pau Relat, President of the Governing Board of Fira de Barcelona, added: “Fira accepts this challenge with the goal of putting our certified experience in organising major international events at the service of a world-class infrastructure and optimising its management by diversifying its activity with congresses, fairs, musical and cultural festivals, among others. The operation of the Circuit will broaden our horizons and strengthen Fira's role as an economic and social driver.”