Blockbuster: F1 to receive this astronomical amount for racing in Miami

The Miami Grand Prix is guaranteed a spot on the Formula 1 calendar until 2041. No other race has such certainty, but the organisation of the American race knows that the event will take place at least sixteen more times. Why was such a long-term agreement made?

Journalist Joe Saward reports that Stephen Ross, the owner of the Miami Dolphins, who play their games in Hard Rock Stadium, is said to have made a deal with Formula 1 worth over one billion dollars. Therefore, it’s a major win for the sport.

With the confirmation that the Miami Grand Prix will continue for a long time to come, it's also possible to make extra investments on and around the track. Until now, most of the facilities were dismantled after the Grand Prix, but new permanent buildings and stands can also be erected with this certainty.

A solution still needs to be found for the eleventh team making its debut in Formula 1 next season. This year, the teams had their hospitality on the Dolphins' field, but there's actually no place for  Cadillac. For example, a solution for housing this future team in ‘26 needs to be devised.

The contract extension is good news for the Miami region. It benefits from the tens of thousands of fans who attend the race while costing Miami next to nothing. After all, most of the costs are covered by the wealthy Ross.