F1: MIAMI GRAND PRIX WILL NOT HAPPEN NEXT YEAR

F1: MIAMI GRAND PRIX WILL NOT HAPPEN NEXT YEAR

F1: MIAMI GRAND PRIX WILL NOT HAPPEN NEXT YEAR

$LMCA

F1 has given up on the possibility of having a Grand Prix in Miami next year and the focus is now to have the venue on board for Y 2020.

The Miami last week delayed a decision on hosting a race until September due to emerging local opposition. A discussion on a race contract had originally been scheduled for next Thursday.

The likely scenario now is that the race will take place in Y 2020.

Others confirmed Y 2019 was no longer considered an option and official confirmation was expected soon.

F1’s commercial rights holders Liberty Media (NASDAQ:LMCA) are keen to expand in the United States, whose only race at present is at the Circuit of the Americas in Austin, Texas.

That US Grand Prix circuit is the only purpose-built permanent F1 track in the country and Miami would be a street circuit taking in the harbor-side and downtown.

The Miami Herald reported last week that many downtown and Port Miami residents had expressed concerns about the proposal and potential road closures, noise and traffic problems.

F1 has long sought a 2nd race in the US but previous attempts have ended in failure.

Liberty wants to make sure Miami, which has been offered a 10-year contract, has long-term viability with the maximum local support.

That meant not rushing through the proposal just for the sake of putting a flag on the map.

“It needs to be done properly, past mistakes cannot be repeated,” a source said at the German Grand Prix.

A proposed Y 2013 New Jersey race was unveiled but then pushed back to Y 2014 because organizers needed more time to prepare.

It was included on the provisional Y 2014 calendar but the plan was ultimately abandoned for financial reasons.

A draft 2019 calendar has yet to be published by F1 but Miami, penciled in for October, would have been the big new draw.

Another source said the absence of Miami could lead to renewed efforts to strike a deal for a German Grand Prix, which  came out of contract at Hockenheim after Sunday’s race.

A fan festival is already scheduled for Miami this year, in the same week as the 21 October race in Austin, and that will still go ahead.

The South Florida city has never before hosted a F1 championship Gand Prix.

Have a terrific week

The following two tabs change content below.

Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

You must be logged in to post comments :  
CONNECT WITH