Miami Grand Prix here to stay as massive calendar extension signed

The Miami Grand Prix will be on the F1 calendar until, at least, the F1 2041 season as a new deal has been signed off.

Having been first introduced to the calendar in 2022, Formula 1 will be returning to Miami for the next 16 years at least, with the Florida venue receiving a 10-year extension on top of its existing deal.

Miami Grand Prix receives lengthy contract extension

The venue, made of access roads around the Hard Rock Stadium in Miami, may divide opinions as a racetrack, but the event itself has been viewed as a significant addition to the calendar after becoming the second United States round on the calendar alongside the Austin race in 2022.

The US market has grown hugely in recent years and has since added a further race with the Las Vegas Grand Prix becoming the first Liberty Media-promoted event in 2023.

Miami’s contract had been due to expire in 2031, but F1 has signed off on a contract extension to keep returning to the circuit until 2041, at the earliest.

The new deal means Miami is the longest-contracted race on the calendar.

According to F1, the Miami GP has made a”significant impact on the local economy and community, generating more than US$1 billion in economic impact across its first three years.

275,000 fans were in attendance at the 2024 event at the Miami International Autodrome, with the largest US television audience for an F1 event reported at 3.1 million viewers to see Lando Norris take his maiden victory.

“In just three years, the Miami Grand Prix 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,” said F1 CEO Stefano Domenicali.

“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, which is constantly growing and passionate like never before.

“Miami is not only an extraordinary city, but also a truly global sporting hub, energetic, dynamic, and culturally vibrant. All this would not have been possible without the far-sighted vision and tireless commitment of Stephen Ross and Tom Garfinkel, to whom I extend my sincere gratitude for the leadership, support, and dedication with which they have helped transform the Miami Grand Prix into a world-class event.”

Why has the Miami Grand Prix been renewed so early?

With Miami still having six years left on its current deal, the early renewal of its deal has come as a surprise.

“Well, from our standpoint, it enables us to say that this event is here to stay for a very long time,” said Tom Garfinkel, managing partner of the Miami GP.

“It enables us to build on initiatives that we’ve started in the community – like the STEM programme, for example – and continue to build on things. It enables us to continue to invest into the event.

“We take our responsibility of helping to grow the sport of Formula 1 in the United States pretty seriously and I think what this says is we can use this now to help do that. when you take someone to an event who’s a casual fan, who may not love the sport, that’s when they really fall in love and become a more avid fan.

“So we believe, if we’re here doing that year after year, we’re just going to grow more fans here in the United States.”

Domenicali agreed with Garfinkel, saying, “We believe that the credibility and authenticity to make sure that we stay here for a long time, we can build the right story to be relevant, and that’s what we need to do in this market, because, as I said, we are growing, but we are still small.

“We want to think bigger and bigger. The only way to think big is to work together with partners who are the best and will help us to know an environment that we are still discovering.

“That will be beneficial for sure, for both of our worlds.”

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