Miami’s City Council is set for further discussions and a vote on bringing Formula 1 to the area for a potential 21-year period during a meeting next week.
The United States is regarded as a key market to tap into for Liberty Media, the organisation that acquired Formula 1 in early 2017, and Miami has been identified as a preferred venue.
Miami officials earlier this year approved the preliminary agreement for the event, backed by Miami Dolphins owner and entrepreneur Stephen Ross, with a contract running from 2019 to 2028.
The City Manager was given approval to negotiate with Formula 1 chiefs and it is this which will be discussed at the meeting, scheduled for next Thursday morning (26 July).
Four of the five commissioners, which does not include the Mayor of Miami, must approve the plans during the vote.
In documents notifying citizens of the meeting it was revealed that the contract under negotiation is to contain an option to host a Grand Prix through 2039.
The inaugural Grand Prix in Miami is pencilled in for October 2019 as the first of a 10-year contract, though an official document labels the end date as October 2029 – effectively covering 11 events.
It added that there will be “an option for a further 10-year extension”, which would cover the 2030s.
A Fan Festival is set for Bayfront Park in October this year as part of the build-up to the planned event and the corresponding United States Grand Prix, held at Texas’ Circuit of the Americas.
The agreement is set to take place between the City of Miami, the Bayfront Park Management Trust, South Florida Racing LLC and the Formula One World Championship.
The resolution document put forward by the City of Miami claims that a Grand Prix “will bring thousands of race fans to South Florida” which “can easily become part of a much larger visit to the rest of Florida.
“Millions of international viewers will see the City and the greater South Florida area for four straight days of race events, and this type of international exposure every year, for 10 years, is equivalent to Super Bowl viewership.”
Any local residents with opposition to the Grand Prix have also been asked to attend the meeting in order to make their views heard.
See also: Joe Saward takes a look at latest potential Miami GP track layout
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