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F1 extends deal to keep Miami GP until 2041 / Photo: Mireya Acierto - GETTY IMAGES NORTH AMERICA/AFP
NYSE - LSE
F1 extends deal to keep Miami GP until 2041
Formula One has agreed a 10-year extension with Miami Grand Prix organizers ensuring the race will continue until 2041.
South Florida Motorsports, a subsidiary of the NFL's Miami Dolphins, are hosting their fourth grand prix this weekend at the track which surrounds the team's Hard Rock Stadium.
The current deal was due to expire in 2031 but Formula One president and chief executive Stefano Domenicali said they were keen to lock-down the event for the long term.
"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," he said.
Miami Grand Prix managing partner Tom Garfinkel said the extension was a huge vote of confidence from F1 in the event.
"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," he said.
Last year's Miami Grand Prix attracted the largest US television audience of all time for an F1 race with 3.1 million viewers.
C.Valero--HdM
