As the first practice was set to start in Miami, Formula 1 has confirmed that the Miami Grand Prix will remain on its calendar through 2041 following a new 10-year extension with South Florida Motorsports (SFM). This agreement makes the Miami Grand Prix the longest-contracted race in the championship’s history and highlights the event's success and Formula 1's growing footprint in the United States.
Originally debuting in 2022 with an initial 10-year agreement, the race’s commitment now extends to a total of 20 years. The Miami Grand Prix has established itself as a major global event, combining high-speed racing and entertainment around the Hard Rock Stadium in Miami Gardens.
“Securing a 10-year extension with Formula 1 through 2041 is an extraordinary milestone for all of us at South Florida Motorsports,” said Tom Garfinkel, Managing Partner of the FORMULA 1 CRYPTO.COM MIAMI GRAND PRIX. “This extension 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. This long-term commitment allows us to continue innovating, investing in the fan experience and deepening our impact across South Florida.”
Formula 1 President and CEO Stefano Domenicali described the deal as a “strategic milestone” for Formula 1 in America. “Extending this agreement until 2041 strengthens our presence in America and consolidates the bond with our fan base there,” he said. “This would not have been possible without the vision and commitment of Stephen Ross and Tom Garfinkel, to whom I extend my gratitude for transforming the Miami Grand Prix into a world-class event.”
The race has attracted significant attention since its inception. The inaugural event in 2022 drew over 240,000 spectators, with Max Verstappen winning a memorable battle against Charles Leclerc. The 2023 race saw Verstappen win again, showcasing an expanded fan experience with features like the Team Village at Hard Rock Stadium and enhanced hospitality areas.
A record-breaking 275,000 fans attended the 2024 race weekend, where McLaren’s Lando Norris claimed his first Grand Prix win. The event also featured back-to-back F1 Academy victories by Abbi Pulling and a record U.S. television audience of 3.1 million viewers, the largest for a Formula 1 event.
The Miami International Autodrome, a 5.41-km circuit with 19 corners and three straights, provides a unique challenge for drivers, with top speeds reaching 320 km/h. The track’s layout and entertainment offerings have established Miami as a sought-after venue for fans, drivers, and teams.
Beyond the on-track excitement, SFM has focused on leaving a lasting legacy in the Miami Gardens community. Significant contributions include investments in STEM education, internship programs for local students, and the annual Community Restaurant Program. Over three years, 15 community-owned restaurants, many female- or locally owned, have been showcased at the event. To date, the Miami Grand Prix has delivered over $1 billion in economic contributions to the area.
With the contract extension, the Miami Grand Prix is set to remain a central feature of the Formula 1 calendar, delivering economic growth, community impact, and world-class motorsport for the foreseeable future.