The Museo Nacional Thyssen-Bornemisza is set for its largest expansion yet, following an unexpected agreement between Francesca Thyssen-Bornemisza and the Spanish government. The plan centers on transforming the long-vacant Palacio de Hielo, a landmark behind the Hotel Palace, into a new space for contemporary art and museum operations.
Announced on September 16, 2026, by Culture Minister Ernest Urtasun and Finance Minister Arcadi España, the deal brings 365 works from the TBA21 Foundation into Spain’s national collection. It includes a donation of 186 pieces valued at €15 million and a long-term loan of 179 more, worth €10 million. With earlier commitments, the total value of art entrusted to the state nears €100 million. In return, the government will fund the renovation of the Palacio de Hielo y del Automóvil, with initial costs projected at €90 million. Some sources put the budget closer to €70 million, reflecting continued uncertainty.
The Palacio de Hielo y del Automóvil has stood empty since 2007, after decades of use by state institutions.
The Palacio de Hielo opened in 1922 and was one of Spain’s first major buildings to use reinforced concrete for large, open interiors. Its original ice rink hosted the country’s first league hockey match and early car exhibitions. Over time, the building went from leisure venue to state use, housing the Centro de Estudios Históricos and later the CSIC. Inside, a library designed by Miguel Fisac in 1950 remains a rare example of Spanish interior design. It survived a major fire in 1978.
The future of Fisac’s library is uncertain. The Palacio de Hielo has remained empty since the CSIC left in 2007. A 2011 city plan reduced its heritage protections, requiring only that the exterior façade be preserved. Sealed since 2019, the library could face demolition or major changes depending on the outcome of an international architecture competition planned for 2027. Heritage advocates are concerned, particularly after the demolition of Fisac’s La Pagoda in 1999. Recent urban planning decisions have weakened the building’s protected status, leaving the library especially vulnerable.
Meanwhile, the Thyssen family has reached a rare agreement. Francesca Thyssen and Carmen Cervera, once divided over the family legacy, now present a united front with Borja Thyssen. The partnership lets the museum combine its classical collection with TBA21’s experimental works, including pieces by Ai Weiwei and Olafur Eliasson, with Marina Abramović also represented. The expansion will also ease crowding at the Palacio de Villahermosa and bring conservation and research functions together, with education under the same roof.
The project timeline remains preliminary: officials expect to define the program and architecture competition in 2026, followed by design development in 2027 to 2028 and construction starting from 2029. The final budget and scope may still change, as official figures vary between €70 and €90 million in different reports.
The project aims for construction to begin in 2029 and the new museum to open in 2032, but restoring a century-old building and adapting it for new uses leaves many details unresolved. Including the Centro Memorial de las Víctimas del Terrorismo in the same building adds another layer of complexity. Spanish news agencies report that the government’s official position is for the building to serve as both a museum and a public cultural space.
Madrid’s city center continues to grapple with noise and congestion, alongside disputes over heritage preservation. The Thyssen expansion will test whether the city can balance new ambitions with respect for its architectural past. The government’s decision to invest public funds at this scale is a bet on culture as a force for Madrid’s future. Fisac’s library still has no settled future, and the project’s logistics remain unresolved. Madrid’s museums now stand at a crossroads: the city could gain a major new cultural landmark or face another debate over how to balance progress and preservation.
