Formula 1 has announced that it has agreed in principle a deal with the Hard Rock Stadium to host the first-ever F1 Miami Grand Prix.
Should it join the United States Grand Prix on the F1 calendar, it’s predicted that the F1 Miami GP could have an economic impact of more than $400m (£311.8m) and bring in 35,000 hotel room nights in South Florida.
The event would also create 4,000 new jobs, according to the organisers.
F1.com reports that should the race be given the green light in a vote by the Miami-Dade County on 28 October, it would see Formula 1 return to the state of Florida for the first time since the 1959 United Stated Grand Prix at Sebring.
Announcing the agreement, Hard Rock Stadium vice-chairman and CEO Tom Garfinkel and F1’s managing director commercial operations Sean Bratches said in a statement: “We are thrilled to announce that Formula 1 and Hard Rock Stadium have reached an agreement in principle to host the first-ever Formula 1 Miami Grand Prix at Hard Rock Stadium.
“With an estimated annual impact of more than $400 million and 35,000 room nights, the Formula 1 Miami Grand Prix will be an economic juggernaut for South Florida each and every year.
“We are deeply grateful to our fans, elected officials and the local tourism industry for their patience and support throughout this process.
“We look forward to bringing the greatest racing spectacle on the planet for the first time to one of the world’s most iconic and glamorous regions.”
The Miami Herald reports that tourism industry officials are delighted that the city is in line to host an F1 grand prix.
Wendy Kallergis, president and CEO of the Greater Miami and the Beaches Hotel Association, said: “We support, and love, and are very excited about the prospect of Formula 1 coming.
“I can tell you all of our hotels across Miami-Dade County, our employees, our general managers are very excited about it.”
The 65,326-seat capacity Hard Rock Stadium is located in Miami Gardens, Florida, and is home to NFL team the Miami Dolphins.
Image: f1mia.com