F1 eyes 20-year deal for Miami GP
- Published on 18 Jul 2018 08:34
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- By: Jeroen Jonkers
Yet another meeting could finally mean the green light for a grand prix in Miami.
We have 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 a deal through 2029 was in the works.
But now, F1 business journalist Christian Sylt says 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 a race deal would be for 2019 until 2029, "with an option for a further ten year extension".
A 20-year deal is much longer than usual in F1, but Sylt says Liberty Media is prepared to waive the usual $30 million per year 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.
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Replies (12)
Login to replycalle.itw
Posts: 8,527
Ya havent even had a trial period and you want a 20 year deal? Really now.
f1dave
Posts: 782
Miami will be under water in twenty years.
mcbhargav
Posts: 1,332
Land reclamation is apparently a piece of cake these days.
RogerF1
Posts: 501
I’m sure there would be a tremendous list of none city circuits would be superbly prepared and viable with a waiver of a $30M annual hosting fee. Liberty “looking after their own”?
calle.itw
Posts: 8,527
Funny thing is, looking at some of the better ones Im sure they could do something decent there. Circuit de Americas is already very close to Austin, a very big and wealthy city in Texas, so they could just spice that thing up for starters (not really knowing what its like currently, bear in mind). But Watkin's Glen is in the NY county, so thats another prospect, and Laguna Seca is in California. And besides, in the U.S there are plenty of sponsoring opportunities, meaning the cost could be offset somewhat.
Ram Samartha
Posts: 1,172
The articles I've seen talk about a Las Vegas race and possibly West Coast or New Jersey. Austin isn't really close to Miami at all unless you consider 2200 kilometers very close. I think the promoter is right that a Miami race might hurt the Austin race. Most people would rather go to Miami than anywhere in Texas. Las Vegas would potentially bring a whole different crowd with some overlap, but most West Coast people probably wouldn't go to Texas or anywhere on the East Coast for a race unless they were solid fans. Street circuits aren't usually as exciting but they make more sense from a marketing perspective. If you have a great venue but put it out in the middle of nowhere you won't get the crowd you will get if you put the race in a metropolitan area. I don't know that looking after their own really applies. They are looking at what makes the best business sense. They know that Miami and Vegas have places for a street track and the hospitality industry infrastructure is already in place to handle a large influx of visitors. And they are both known for being party towns. Austin is a party town too but you're still in Texas at the end of the day.
calle.itw
Posts: 8,527
I wasnt talking about Austin being close to Miami, I was talking about Circuit de Americas being close to Austin. I'd probably agree with the rest of your statement, but thats the pain that comes with having 2 GPs in one country, and since Liberty is so hellbent on doing that, I think they could at least have it at a proper track.
talktohenry
Posts: 362
I think it's great we can all go on holiday there and take in a GP at the same time, wish they had an Ibiza or Marbella GP.
Bhurt
Posts: 320
Giving away $600 million to host a race nobody wants in a market where nobody watches. Good business. Not even a little bit shady.
talktohenry
Posts: 362
They trying to develop America and they are doing the right thing as if racing gets better and closer F1 WILL BECOME POPULAR.
calle.itw
Posts: 8,527
They are doing the right thing, by not giving their current fanbase what they want (an actual good track, I mean pick any, the U.S has plenty of good tracks), while also probably not giving the audience they are chasing what they want? The problem is that Liberty is looking for the Perfect Pasta Sauce, which they interpret as Monaco, when we already have Monaco and dont need another one. Pick something new and fresh. We already have the spicy pasta sauce liberty, give us a chunky sauce now!
Ram Samartha
Posts: 1,172
It wasn't Liberty's doing but the Baku street circuit turned out to be a good one for racing. It looks like they are trying to do something similar with a long straight but in Miami they are doing both directions of the straight with a hairpin at the end. Americans like drag racing so this kind of track with long straights will probably be appealing. If they want it to become more popular they will need to make it more accessible and affordable. ESPN2 picked up Sky Sports F1's coverage of race weekends and it so much better than the free over the airwaves coverage used to be. If people can't turn on their tv or computer and easily find the race coverage it will never become popular. I think the racing has been pretty good this year for the most part with the exception of cars washing out in the front from the aero design whenever they get close enough to make a move, but that's being sorted for next year hopefully.