Garfinkel explains Miami's 2041 F1 contract

May 6 (GMM) In 2041, Kimi Antonelli will be 35, while Fernando Alonso will be knocking on the door of retirement age by celebrating his 60th birthday. In the very same year, Miami is still guaranteed to be on the Formula 1 grid.

“The deal makes the grand prix in Miami Gardens the longest contracted race in Formula 1,” read a statement, “and reflects the continued success of the event and the sport’s growth in the United States.”

It’s an extreme contrast to the fates of well-known European circuits like Imola (Italy) and Barcelona (Spain), whose own contracts with F1 are rapidly expiring.

The champion of the Miami GP, which debuted on the calendar in 2022, is Miami Dolphins and Hard Rock Stadium president Tom Garfinkel.

He spoke to a group of journalists last weekend to explain Miami’s special new status in Formula 1. “We’re trying to create something different and unique, and authentic to Miami,” said Garfinkel.

“What we do here doesn’t necessarily work anywhere else and vice versa,” he told AS newspaper.

As for the extraordinary length of the contract extension, he continued: “Stefano (Domenicali) and I have been talking for a long time, based on the success of the previous three years, about what we wanted to do this year and about being here for a long time.

“From a planning perspective, this allows us to be creative and increase investment because there’s a significant private investment of hundreds of millions of dollars behind it that must be recovered, and it can’t be recovered in five years.

“This agreement allows us to continue innovating and being creative for the long term. Stefano also acknowledges that we want to do things right. We’re not looking for shortcuts.

“We’re also not here to make money, but to organise a great event and grow the sport in the United States. We’re sending the message that we’re here to stay.”