Formula 1 has announced it will return to South Florida for the next decade after signing a massive extension with promoter South Florida Motorsports.
According to a Friday announcement, Formula 1 will continue to take part in the Miami Grand Prix through the year 2041. This makes the event the longest contracted on the F1 calendar.
The official F1 website noted that the Miami Grand Prix has made a major impact on the South Florida economy by generating more than $1 billion since the inaugural event.
F1 first headed to Miami in 2022. Max Verstappen delivered a dominant performance by winning after leading 48 of the 57 laps. Verstappen then successfully defended the win in 2023 by leading another 36 laps.
Last season's Miami Grand Prix featured a new winner. Lando Norris led 31 laps for McLaren and scored the win. Verstappen crossed the line in second place, which dropped his average finish in the event to 1.3.
F1 stated that 275,000 fans attended last season's event while watching Norris capture the win. The Grand Prix also set a United States viewership record with 3.1 million people watching.
The track is built around Hard Rock Stadium, which is home to the NFL's Miami Dolphins. It features 19 turns spread over 5.412 kilometers (3.36 miles).
"In just three years, the Miami Grand Prix has established itself as one of the most important and spectacular events on our calendar, an extraordinary example of quality and vision that truly represents the spirit and ambition of Formula 1 in the United States," said Stefano Domenicali, President and CEO of Formula 1, in a statement.
"Extending this agreement until 2041 is a strategic milestone of enormous importance, which strengthens our presence in America and consolidates the ever-deepening bond with our fan base there, which is constantly growing and passionate like never before.
"Miami is not only an extraordinary city, but also a truly global sporting hub, energetic, dynamic, and culturally vibrant. All this would not have been possible without the far-sighted vision and tireless commitment of Stephen Ross and Tom Garfinkel, to whom I extend my sincere gratitude for the leadership, support, and dedication with which they have helped transform the Miami Grand Prix into a world-class event."