Through a 10-year extension, the Miami Grand Prix from motor racing's iconic Formula 1 (F1) will remain on the series' calendar through 2041.
A deal between F1 and the South Florida Motorsports promoter was announced on Friday, May 2, ahead of the 2025 Miami GP taking place on Sunday, May 4.
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The renewal agreement makes the Miami event – held around the multi-use Hard Rock Stadium in the Miami Gardens region – the longest-contracted race on the F1 calendar, with the current contract between the two parties set to run through the 2031 season.
Miami only began hosting F1 action in 2022, and according to F1, over $1 billion in terms of economic impact has been generated for the local economy since then.
Indeed, it has been recently reported by Sport Business Journal that sponsorship income for the race this year, which had Crypto.com in as its title partner, topped revenue secured across the three previous editions.
The race is also one of the most high-profile on the F1 calendar in terms of celebrity attendance, sponsor engagement, and VIP ticket sales.
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By GlobalDataThe 2024 race was watched by the largest average US TV audience in F1 history – 3.1 million – and also secured a live attendance record of 275,000.
Last weekend's race, meanwhile, was won by McLaren's Oscar Piastri, with the sprint race won by his teammate Lando Norris.
Stefano Domenicali, Formula 1's president and chief executive, has 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.
"Miami is not only an extraordinary city, but also a truly global sporting hub, energetic, dynamic, and culturally vibrant."
This follows on from a three-year hosting rights extension, between F1 and the organizers of the Mexico City Grand Prix, announced at the end of April. Through that tie-up, the Autódromo Hermanos Rodríguez in the Mexican capital will continue to host F1 action through 2028.
In January, meanwhile, the hosting rights contract for the Belgian Grand Prix at the iconic Spa-Francorchamps venue was extended.
Tom Garfinkel, managing partner at the Miami Grand Prix, added: "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. 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."
The 2025 F1 season, featuring 24 races (the maximum that can be allocated, through the contracts between the 10 teams and F1, is 25), began in Australia in mid-March and runs through to Abu Dhabi in early December. The next race will be the Emilia Romagna Grand Prix in northern Italy, taking place on May 18.
