Formula 1 has reached a preliminary agreement for Miami Grand Prix

DORAL, FL – Formula 1 through Liberty Media Group has announced it has reached a preliminary agreement for Miami Grand Prix regarding its location.

The new venue will take place at the Hard Rock Stadium upon pending approval of the county’s commissioners.

“We are thrilled to announce that Formula One and Hard Rock Stadium have reached an agreement in principle to host the first-ever Formula One Miami Grand Prix at Hard Rock Stadium,” read a joint statement from F1 chief Sean Bratches and Vice Chairman and CEO Tom Garfinkel as quoted by Crash.net

The event, to be celebrated in 2021, would be the second Formula 1 auto race in the US, since the maximum motor racing category is holding a contract with Circuit of the Americas in Austin, Texas.

Despite complaints and the refusal of many local residents to make a Formula 1 Grand Prix in the streets of Miami, F1 has released images of the circuit which will loop around the stadium of Stephen Ross, also owner of NFL’s Miami Dolphins.  

As reported by several websites, this is great news for the city, because this annual race would boost the local economy.

“With an estimated annual impact of more than $400 million and 35,000 room nights, the Formula One Miami Grand Prix will be an economic juggernaut for South Florida each and every year,” expressed Grand Prix directors.

“We are deeply grateful to our fans, elected officials and the local tourism industry for their patience and support throughout this process. We look forward to bringing the greatest racing spectacle on the planet for the first time to one of the world’s most iconic and glamorous regions,” was read in the statement.