Formula 1 has announced it has signed a new 10-year contract extension with the organisers of the Miami Grand Prix, keeping the race on the calendar until at least 2041.
The new deal was announced on Friday ahead of this weekend's running by F1 CEO Stefano Domenicali and Tom Garfinkel, managing partner of the race as well as the CEO of the Miami Dolphins and the Hard Rock Stadium, the venue the Miami Autodrome loops around.
Miami joined F1 in 2022 as the second US race on the calendar alongside the United States Grand Prix in Austin, and both have since been joined by the F1-run Las Vegas Grand Prix.
The new deal is taking Miami to the longest deal of any race on the calendar, signaling its rising stature as F1 owner Liberty Media aims to further capture the US market.
“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," Domenicali said. “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.”
F1 claims the race has generated more than US$1 billion in economic impact for the city over its first three years. Last year the event attracted 275,000 fans over the weekend as McLaren's Lando Norris claimed his maiden grand prix victory.
“Securing a 10-year extension with Formula 1 through 2041 is an extraordinary milestone for all of us at South Florida Motorsports and a true testament to the hard work of our team, the strength of our partnerships, the support of our community and the growth of the sport in the United States," Garfinkel added.
"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. This long-term commitment allows us to continue innovating, investing in the fan experience and deepening our impact across South Florida.”
