Contract, public funding for proposed Miami GP to be discussed next week

Image by Adam Warner/LAT

Contract, public funding for proposed Miami GP to be discussed next week

Formula 1

Contract, public funding for proposed Miami GP to be discussed next week

Plans to host a Formula 1 race in Miami, Florida in 2019 could move a step closer next week as the contract and requests for public funding for the proposal will be discussed during a meeting of the Miami City Commission on Thursday, July 26.

At the meeting, the City Commission will seek to approve a resolution “urging Governor Rick Scott and the Florida Legislature to make funding available to support the Formula 1 Miami Grand Prix,” adding that “the City Manager is hereby directed to make the finding of available state funding a legislative priority.”

Previously it has been suggested that the Miami Grand Prix would be privately funded, with Stephen Ross, owner of the NFL’s Miami Dolphins,  playing a key role in the promotion of the event.

Along with the effort to chase state funding, there will also be a public hearing at the meeting for the purpose of approving that “competitive negotiation methods and procedures are not practicable or advantageous” to the city and to allow the city manager to execute the Host City Agreement for the race.

Supporting documents reveal the contract with Formula 1 is for an initial 10-year period from October 2019 to October 2029 inclusive, with the option for a further 10-year extension beyond that that must be activated by mid-2026.

The proposed track layout has also been altered after opposition against the initial layout that would have used waterfront land around the American Airlines Arena, with two chicanes added instead to the south of the stadium before the track rejoins Biscayne Boulevard.

An F1 Fan Fest is still planned in Miami for October of this year at Bayfront Park in order to build momentum for the inaugural race.

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