MIAMI GARDENS, Fla. (AP) — Formula 1 has announced a 10-year extension for the Miami Grand Prix, ensuring the prestigious event will remain on the F1 calendar until 2041. This extension marks a significant milestone for the Miami Grand Prix, as expressed by Tom Garfinkel, managing partner of the event, who stated, "From our standpoint, it enables us to say that this event is here to stay for a very long time.” Garfinkel highlighted the collaborative efforts of the South Florida Motorsports team, local partnerships, community support, and the overall growth of the sport in the United States as key contributors to this achievement.

Debuting in 2022, the Miami Grand Prix became the second F1 race in the U.S. and this Sunday will be the fourth running of the event under an original 10-year contract with F1. Currently, there are three F1 races hosted annually in the United States, with the addition of Las Vegas in 2023, alongside the established Circuit of the Americas in Austin, Texas.

F1 President Stefano Domenicali emphasized Miami's importance within the series as it continues to expand its presence in the U.S. market. He stated, "In just three years, the Miami Grand Prix has established itself as one of the most important and spectacular events on our calendar." Domenicali viewed the contract extension as a strategic milestone, reinforcing F1's commitment to its rapidly growing and passionate fan base in America.

The extension of the Miami Grand Prix contract follows closely on the heels of a three-year extension announcement for the Mexico City Grand Prix. However, the context differs as the latter is nearing the end of its existing contract. Conversely, the Miami race was heralded as crucial to F1's focus on North American growth and the significant economic impact it has had on South Florida, generating over $1 billion in economic activity during its first three years.

Promoters assert that interest in the Miami Grand Prix is robust, citing a record attendance of 275,000 spectators over three days last year. The event also garnered the largest U.S. F1 television audience ever, with 3.1 million viewers tuning in. South Florida Motorsports, the official promoter of the event, has engaged in various community initiatives, including establishing internship programs and collaborating with local charities while promoting local businesses each year, earning recognition as the 2024 F1 “Promoter of the Year.”

The Miami Grand Prix takes place around Hard Rock Stadium in Miami Gardens, Florida, which is also the home turf for the Miami Dolphins, the ATP and WTA Miami Open, and will host matches during the upcoming soccer World Cup in 2026.