Former champions include Arnold Palmer, Seve Ballesteros, Bernhard Langer, Nick Faldo and Jon Rahm.

The tournament has been organized by the Royal Spanish Golf Federation.

In April 2019, a partnership between the Royal Spanish Golf Federation, the European Tour, and Madrid Trophy Promotion (MTP) was announced.

[1] This agreement meant that MTP became the organizer of the event for the next 5 years.

MTP is also the organizer of the Mutua Madrid Open, a professional tennis tournament.