Formula 1 to get a second race in America

The Miami City Commission has approved a resolution to bring Formula 1 to the city of Miami from 2019-2028. While the exact schedule has not yet been decided, the inaugural race is expected to be held sometime in October 2019.

The Formula 1 Miami Grand Prix will be the second race in the United States of America after the United States Grand Prix (USGP). The US GP has been held 47 times, in over 10 different circuits as of 2017. Since 2012, it has been held in Elroy, Texas (19 km south of Austin). Liberty Media - the owners of the Formula 1 had earlier held discussions to host races at Las Vegas and New York.

The proposed 4.14 km circuit will go around the American Airlines Arena, pass through downtown and cross the Port Boulevard bridge above Biscayne Bay. The tall buildings and yachts surrounding the circuit are expected to offer views of the race.

Formula 1 has 500 million fans worldwide. The 21 races conducted across five continents are broadcast to 1.8 billion viewers and have 15 million followers on social media. According to data provided by Formula 1 authorities, the USGP in Austin gave over US$ 2.8 billion of benefits from 2012 to 2015 and generated more than 200,000 visitors during race weekends.

Source - Bloomberg