The FIA has poured cold water on rumors that a deal to relocate F1’s Spanish Grand Prix to Madrid is close, stating that the project has yet to advance to its crucial initial phases. Over a year ago, the city of Madrid informed Formula One Management [FOM] that it was committed to bringing Grand Prix racing to the streets of the capital of Spain at some point in the future. That commitment led to a formal project being put on its rails and supported by IFEMA, Madrid's major center for conferences and conventions which is operated by public organisations, and on the grounds of which would be laid out a proper F1 street circuit. Last summer, IFEMA – which hosted this year’s F1 Exhibition – sug
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