FOM/FIA did.

The Madrid project reportedly offered to pay Formula One €48m/year, nearly twice as much as Barcelona’s current payment of €26m, in exchange for the right to host the race

Spain has a history of shitty tracks. See Valencia, now in ruins. All propped up by taxpayers.

It looks like it’s a fun track to drive, however that doesn’t always translate to being fun to watch. It’s similar to Monaco, very tense, close wall action, but with no overtakes it’s so bland as a fan.