Joint statement on the Grand Prix of MiamiOctober 16, 2019
We wrote that after abandoning the design of the route in the area of the city harbor, the new possible venue for the Grand Prix of Miami will be the area of the Hard Rock Stadium. Today, the leadership of Formula 1 and representatives of the stadium issued a joint statement.
“We are pleased to announce that Formula 1 and the Hard Rock Stadium have reached an agreement in principle to hold the first ever Formula 1 Grand Prix in Miami. The project, valued at $ 400 million a year and 35,000 hotel beds, will be an economic driving force for South Florida.
We are grateful to our fans, officials and the local tourism industry for their patience and support. We look forward to holding the most ambitious racing show on the planet in one of the most iconic and glamorous regions of the world, ” – the parties said.
Hard Rock Stadium owner Stephen Ross will finance the construction of the track and the costs of the race, but first the project must receive the approval of local authorities.
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