Miami will be added to the Formula One calendar for the 2021 season after the city agreed a deal with Liberty Media.
A Miami Grand Prix has long been mooted as a street race but that proposal was scrapped after local objections. The new deal involves building a racetrack at the Miami Dolphins’ home ground, Hard Rock Stadium.
The first race is scheduled for May 2021 with the track expected to cost $40million.
In a joint statement, Formula One’s Sean Bratches and Tom Garfinkel, CEO of the Dolphins, said: “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 impact of more than $400million and 35,000 room nights, the Formula One Miami Grand Prix will be an economic juggernaut for South Florida each and every year.”
Liberty Media has made no secret of its desire to crack the United States and the race in Miami would be added to the F1 calendar alongside the current United States Grand Prix thereby extending, if approved by local government officials, the season from 22 proposed races for 2020.