F1 Wants a Grand Prix in Miami

F1 Wants a Grand Prix in Miami

F1 management is confident a Miami Grand Prix will happen in the near future, despite complications in finalizing a location for the race.

F1 and the City of Miami originally came to a 10-year agreement to host a street race around the Biscayne Bay and Bayfront Park area, originally slated to start in the Y 2019 season. But, the plan was met with opposition from local residents and businesses, forcing the race to be delayed indefinitely.

That location has been abandoned, and a new 1 has formed North of the original location at the Miami Dolphins’ Hard Rock Stadium. The sponsors led by Dolphins owner Stephen Ross, feels the new plan would create less disruption for the local area.

F1’s global director of promoters and business relations, Chloe Targett-Adams, is in charge of every existing and potential race deal in F1 and she is confident an agreeable location can be found, even if it means waiting a while to actually deliver the Miami Grand Prix.

“We are taking a long-term view on it,” Ms. Targett-Adams said. “Miami’s definitely a city we want to race in. It is electric, it’s an awesome destination, it’s a hugely vibrant, dynamic, great city to add to the Formula One calendar.

“We are trying to work out how we can work out a race to Miami in locations that work, whereas there might still be a challenge or complex to work through but ultimately can deliver on a great race and is additive to the wider community and stakeholders, it is a complex challenge.”

The process was complicated by the fact everything was in the public domain, with the City of Miami frequently discussing the bid in various forms.

“When you are working through with government stakeholders it’s natural that a project will have to become public at a certain point in time,” Ms. Targett-Adams said. “We felt it was better to get on the front foot and be open about that, than try and obviously keep things. We don’t negotiate in public but at the same time when you’re dealing with public government stakeholders there’s a degree of transparency.”

F1 has 1 race in the US, the Grand Prix at Austin TX’s Circuit of the Americas aka COTA, which joined the calendar in Y 2012.

Recently, F1 teams were asked for their opinion on where the 2nd race in America should be; Miami, Las Vegas, or a different location, and they agreed on Miami.

F1 does not see Miami as the race to replace COTA on the calendar, but rather another race to add to the US presence on it.

“A clear strategy for us was to find another race in the US. We love Austin, we think it’s a great event, super promoter, and in terms in technology-focused town, vibrant, young, up and coming, it plays quite well with an F1 audience and our brand aspirations and what are brand is at the heart of technology and entertainment in sport. Miami was a dream location for us and remains a very interesting project.”

Stay tuned and have a terrific weekend.

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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.

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