Rwanda and Thailand are contenders to host the upcoming Formula 1 race, offshoring the event from Portugal.
Stefano Domenicali, the executive president of Formula 1, has confirmed the interest of several countries in hosting a World Championship race. Among them are Portugal, Turkey, and Germany, with Saudi Arabia, Rwanda, and Thailand also expressing their desire to join the prestigious racing circuit.
However, it seems that Saudi Arabia, Rwanda, and Thailand may be ahead of Portugal and Turkey in securing a spot on the calendar. This is due to the financial might they can bring to the table, a crucial factor in hosting a Formula 1 event.
The current Formula 1 calendar is filled to the brim with 24 events, the maximum allowed by the Concord Agreement. As a result, no new additions are expected in the coming years, according to Domenicali.
Nevertheless, Domenicali has stressed the need for state support for potential hosts. Countries like Germany (specifically the Hockenheimring), Portugal, Rwanda, Thailand (Bangkok), and Spain (Madrid planned for 2026) are in negotiations for such support. Arab countries and the USA are also noted for their financial willingness, but competition is fierce.
The Prime Minister of Portugal, Luis Montenegro, has guaranteed that everything is on track for the return of the Portuguese Grand Prix to the Algarve. The event is expected to attract around 450 to 500 thousand people, which may present challenges in terms of energy.
Domenicali has emphasised that all promoters must align with the carbon neutrality standards by 2030. About 90% of promoters currently receive contributions from their governments or public entities, making state support crucial for organising Formula 1 events.
Without government or public entity support, it's very difficult for promoters to organise Formula 1 events, Domenicali noted. Potential hosts for Formula 1 races need to have financial power, and some races may need to enter rotation agreements to make way for the new events, including the Portuguese one.
The need to enter Formula 1 and the investments required have changed significantly from a few years ago, according to Domenicali. Imola (Italy) hosted its last Grand Prix this year, and Zandvoort (Netherlands) ends its contract in 2026. Barcelona is also looking for a new location.
Domenicali's comments were made at the Festa do Pontal on August 14, where he also emphasised that all promoters must be ready to meet the carbon neutrality standards by 2030.
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