Formula 1 News: Miami GP renews for 10 years through 2041
South Florida Motorsports (SFM), promoter of the FORMULA 1 CRYPTO.COM MIAMI GP, is proud to confirm that the race will remain on the Formula 1 calendar through 2041, following a new 10-year extension to its original agreement. The deal makes the GP in Miami Gardens the longest contracted race in Formula 1 and reflects the continued success of the event and the sport’s growth in the United States.
Miami first hosted a Formula 1 race in 2022, entering the calendar with an initial 10-year agreement. This new extension brings the commitment to 20 years in total and underscores the race’s status as one of the most desirable sporting events in the world, attracting fans from across the United States and around the globe, with a perfect combination of thrilling racing on track and incredible entertainment off it.
Blending motorsport, culture, music and lifestyle in an iconic American setting around Hard Rock Stadium — the legendary home of the Miami Dolphins — the event has delivered an unmatched experience for fans, partners, drivers and teams. Whether you’re trackside, gaining an exclusive insight into the F1 Team Village from the 300 level of Hard Rock Stadium, or enjoying the panoramic views from luxury hospitality suites, every element of the weekend reflects the energy, style and vibrancy of Miami.
Held at the custom-built Miami International Autodrome, the race has attracted hundreds of thousands of fans and some of the biggest names in global entertainment and sport. In 2024, South Florida Motorsports was named Formula 1 Promoter of the Year, recognizing its outstanding delivery of the event and unwavering commitment to fan experience.
“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,” said Tom Garfinkel, Managing Partner of the FORMULA 1 CRYPTO.COM MIAMI GP.
“To have been granted this extension after only our third event speaks to what we have felt from the very beginning – the Miami GP is here to stay. I want to thank Stefano Domenicali and Formula 1 for believing in our vision, as well as Stephen Ross for his investment and commitment to growing this event. 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.”
Stefano Domenicali, President and CEO of Formula 1, said: “In just three years, the Miami GP 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, 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 GP into a world-class event.”
The inaugural FORMULA 1 CRYPTO.COM MIAMI GP in 2022 drew over 240,000 spectators and featured a memorable battle between Max Verstappen and Charles Leclerc, with Verstappen claiming victory. The 2023 race built on that momentum, showcasing the integration of sport and entertainment. Highlights included a brilliant Verstappen win from ninth on the grid, along with a new permanent Paddock Club, the introduction of the Team Village at the heart of Hard Rock Stadium, expanded fan zones and elevated hospitality offerings further enriched the fan experience.
In 2024, a record-breaking 275,000 race-goers attended across the weekend as McLaren’s Lando Norris secured his first-ever GP victory. The weekend also saw Abbi Pulling take back-to-back wins in F1 ACADEMY, along with Verstappen claiming the sprint race, while the GP attracted a record U.S. television audience of 3.1 million viewers — the highest ever for a Formula 1 event.
From the outset, the FORMULA 1 CRYPTO.COM MIAMI GP has aimed to leave a meaningful legacy beyond the track, especially in its neighborhood of Miami Gardens and the surrounding community. Since the race’s inception, South Florida Motorsports has invested in STEM education programming in schools, provided local organizations with tickets to the event, curated internship programs with college students from the local area, created an annual programming night extended to the local community and promoted homegrown businesses, most notably through its Community Restaurant Program. This year, 15 community-owned restaurants – 67 percent of which are female-owned or co-owned and 40 percent which are based in Miami Gardens – will have the opportunity to showcase their cuisine on an international stage. Over its first three years, the race has contributed more than $1 billion to the local economy.