Formula 1 is doubling down on the US as sales rumors swirl

McLaren’s Oscar Piastri on Sunday won the Miami Grand Prix, a pastel-filled spectacle that included drivable cars made out of Legos.

But that wasn’t the only Formula 1 news to come out of South Florida this weekend. The global racing series announced it signed a deal that’ll keep the Miami race on the calendar through at least 2041, making it the longest contracted event in F1.

It comes amid an aggressive US expansion. F1 has long considered America underserved and filled with untapped potential. But previous efforts to boost the sport’s popularity in the land of red, white, and blue have fallen flat, following a worse first impression than showing up to a first date in a “Minions” t-shirt and calling your ex mid-meal.

• The first US-located F1 race occurred at the Indianapolis Motor Speedway in 2005, when a controversy over tire safety led to only six cars participating.
• Fans, frustrated with the fiasco, lobbed trash from the stands and threatened to riot.

Things started to turn around for F1 in America when Colorado-based Liberty Media purchased the racing circuit for $4.6 billion in 2017. Since then, US viewership has doubled, race attendance is up, and the number of US-hosted races is also up. A big part of this growth can be attributed to a deal with Netflix that resulted in Drive to Survive, a popular reality show centered around F1 team drivers and executives that debuted in 2019.

Looking ahead…The circuit will add Cadillac, its second American team, to the field next year. And while negotiations for a new US media rights deal don’t appear to be panning out how Liberty Media would like, rumors are swirling that the company may soon explore a sale of F1 to lock in its gains. Saudi Arabia’s Public Investment Fund reportedly offered $20+ billion to purchase the circuit two years ago, but was turned down.

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