Formula 1 has awarded the Miami Grand Prix a new contract which guarantees its future for longer than any other race on the calendar.
It handed the promoters of the race at Miami International Autodrome a new 10-year deal which will keep the event on the calendar until at least 2041.
The next-longest deal belongs to the Bahrain Grand Prix, which has a contract running to 2036. Miami will hold the fourth event on its original 10-year deal this weekend.
Formula 1 CEO Stefano Domenicali said the race “has established itself as one of the most important and spectacular events on our calendar, an extraordinary example of quality and vision that truly represents the spirit and ambition of Formula 1 in the United States.”
“Extending this agreement until 2041 is a strategic milestone of enormous importance, which strengthens our presence in America and consolidates the ever-deepening bond with our fan base there,” he added. Last year’s race attracted 275,000 fans over three days.
The Miami Grand Prix is one of two new American rounds Formula 1 has added to its calendar since its purchase by Liberty Media. The race’s managing partner Tom Garfinkel said: “To have been granted this extension after only our third event speaks to what we have felt from the very beginning – the Miami Grand Prix is here to stay.”
“From day one, our goal has been to create a world-class race that also reflects the spirit of Miami — vibrant, inclusive and culturally significant,” he added. “This long-term commitment allows us to continue innovating, investing in the fan experience and deepening our impact across South Florida.”
F1 claims the race has “generated more than $1 billion in economic impact across its first three years” since it joined the calendar. The series is yet to officially renew its deal to continue hosting one of its other races in America, the Las Vegas Grand Prix, while the Circuit of the Americas is contracted to continue hosting the United States Grand Prix until next year.
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