Formula 1 has confirmed a long-term extension of the Miami Grand Prix, locking in the event through to 2041 and making it the longest-contracted race on the F1 calendar.
The deal, signed with promoter South Florida Motorsports, strengthens F1’s presence in the United States and highlights Miami’s growing stature in the global sporting scene.
Commenting on this extension, Stefano Domenicali, chief executive of Formula 1, said, “In just three years, the Miami Grand Prix has established itself as one of the most important and spectacular events on our calendar.”
“This agreement marks a critical milestone that bolsters our presence in America and cements our relationship with a growing and passionate fan base.” Domenicali said.
First held in 2022, the Miami Grand Prix has quickly become one of the most popular events in the sport, blending high-speed racing with entertainment and attracting fans from across the country and around the world.
The race has had a substantial economic impact, contributing over USD$1 billion to the local economy in its first three years.
Beyond financial benefits, organisers have implemented internship programmes, supported local charities, and backed small businesses in South Florida, further embedding the event within the community.
South Florida Motorsports’ efforts have been formally recognised, with the organisation receiving the 2024 Formula 1 Promoter of the Year award for its execution and dedication to fan experience.
Tom Garfinkel, managing partner of the Formula 1 Crypto.com Miami Grand Prix, called the extension a testament to collective effort.
“To have been granted this extension after only our third event speaks to our firm belief that the Miami Grand Prix is here to stay,” Garfinkel said.
“Our intent from the beginning has been to create a world-class race that embodies the spirit of Miami vibrant, inclusive, and culturally significant.” he added.
The 2024 edition of the Grand Prix drew a record 275,000 attendees and saw McLaren’s Lando Norris claim his first Formula 1 victory, while Abbi Pulling secured back-to-back wins in the F1 Academy.
The race also delivered the highest US television audience for an F1 event, attracting 3.1 million viewers.
As Formula 1 and South Florida Motorsports look ahead, the renewed partnership underscores a shared commitment to community involvement and fan engagement, setting the stage for a strong future for motorsport in the US.
