JULY 18, 2018
F1 eyes 20-year deal for Miami GP
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.