The Hard Rock Stadium and Formal 1 have reached an agreement in principle to host a Grand Prix in Miami beginning of May 2021.
The Grand Prix is a massive, luxurious event for car racing fans. The event is currently hosted in 21 different locations including Singapore, Mexico, and United Arab Emirates.
The United States already hosts a Grand Prix race in Austin, Texas at Austin’s Circuit of The Americas. Miami will give its second race to the United States.
The proposed F1 Miami Grand Prix will have a built track around the stadium. The race is estimated to have an annual impact of $400 million and, a positive impact on the Miami tourism and overall economy.
Miami Dolphins owner, Steve Ross, is expected to fund the building of the track. Mr. Ross has already contributed $700 million to the Miami Gardens area including making the stadium the new home for the Miami New Open tennis tournament and for a new Dolphins training facility.
Miami-Dade County is set to vote on October 28th and will be the deciding factor whether the state of Florida will see another glamorous racing event since 1959.
However, there are some opposers including former Miami- Dade Commissioner, Betty T. Ferguson that believe the race will bring negative environmental impact.