Fira de Barcelona and Circuits de Catalunya sign an agreement to optimize the management of the activity at the Circuit de Barcelona-Catalonia
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-Catalonia starting January 1, 2025.
This agreement, approved today by the Board of Directors of the Circuit, follows what was approved on April 16th when the Government of Catalonia authorized 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-Cataluny’s strategic plan, approved in October 2022, which aims to improve management efficiency, strengthen the commitment to digitization, become a reference in sustainability, intensify its local ties, and diversify activities.
The contract, which will come into effect on January 1, 2025, has a extent of 20 years and establishes a payment from Fira Circuit combining a fixed annual amount (a guaranteed minimum of €9 million in 2025 and €10 million in 2026) and a variable based on revenues (25% up to €45 million in revenues and 20% thereafter). This agreement will not affect the workers of Circuits de Catalunya, who will keep their employment conditions.
The aim of the Catalan Government is to optimize the operation of the facilities so that it ceases to be solely focused on major motor competitions, through new business models related to fairs and congresses, healthy leisure, major music and cultural events, and sustainable mobility industry.
Along these lines, Fira de Barcelona is an economic and social powerhouse of the region, one of the best platforms for business, the promotion sales and the industrial fabric, international projection of companies, knowledge exchange, and talent attraction.
Furthermore, the new alliance will not affect the ownership of assets nor the ownership of the F1 and MotoGP contracts, which will remain the property of Circuits de Catalunya.
Roger Torrent, President of the Circuit de Barcelona-Catalunya and Minister of Business and Labor of the Government of Catalonia
“The alliance with Fira de Barcelona will reinforce and speed up the transformation that began a year and a half ago with the new Strategic Plan. This agreement will strengthen Circuit de Barcelona-Catalunya as one of the best in the world and as a global benchmark for such facilities and, at the same time, will multiply its positive impact on the economic and social fabric of the country.
Jaume Collboni, President of the General Council of Fira de Barcelona and Mayor of Barcelona:
“The city’s commitment is not only with motor competition but also with the industry for its contribution to the country’s economy, with the creation of jobs and with the decarbonization process. 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:
“Fira accepts this challenge with the goal of putting our certified experience in organizing major international events at the service of a world-class infrastructure and optimizing 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.”