Formula 1 eyes 20-year deal for Miami Grand Prix
Yet another meeting could finally mean the green light for a grand prix in Miami.
It has been reported that Liberty Media is holding fire on publishing the 2019 calendar because of the extended negotiations about a race in the Florida capital.
In May, city planners met to discuss the race, with local media saying that a deal through 2029 was in the works.
Now, F1 business journalist Christian Sylt says that it is in another meeting on July 26 – next Thursday – that Miami might finally get the go-ahead.
In Forbes, Sylt reproduced a legal notice that says Miami’s City Commission will meet next Thursday “for the purpose of authorising the City Manager to execute the Host City Agreement”.
It goes on to say that a race deal would be for 2019 until 2029, “with an option for a further 10-year extension”.
A 20-year deal is much longer than usual in F1, but the report says that Liberty Media is prepared to waive the usual $30m-per-year (£23m) hosting fee for Miami.
“We appreciate the community’s interest in hosting a formula one race and look forward to working with local officials and stakeholders to bring this vision to life,” F1 commercial boss Sean Bratches said in May.
The 2018 calendar continues this weekend with the German Grand Prix.
