The future of the proposed Miami F1 Grand Prix will be decided next week when the City Commission is scheduled to vote on the proposed 20-year contract for the race.
Even as the City Manager had failed to finalise the race contract by the July 1 deadline, proposed in the Commission resolutions that had set the stage for the race in Miami, everything is not lost. The city manager, in spite of the breach of the resolution, is reportedly busy negotiating with the Formula 1 and Grand Prix organizers South Florida Racing LLC.
A meeting of the City Commission will vote next week on the proposed 20-year contract for the Miami F1 GP. The meeting is scheduled for July 26. A legal notice has been issued for the proposed meeting. “A public hearing will be held by the City Commission of the City of Miami, Florida on Thursday, July 26 for the purpose of authorizing the City Manager to execute the Host City Agreement,” stated the notice.
The notice further reveals that the deal is “for a 10 year contract for the running of the Formula 1 Miami Grand Prix starting in October of 2018 with a Fan Festival at Bayfront Park and commencing with Formula 1 Grand Prix Racing from October 2019 through October 2029 with an option for a further 10 year extension”. The contract, to run till 2029, will have an option for a further extension for ten years.
The contract will need the votes from a minimum four of the five commissioners for the approval. In spite of the support from the commissioners, the decks are still not fully clear for the race, which has faced opposition from the city residents. Miami residents or businesses with any objections will also be heard at the meeting. “The Miami City Commission requests all interested parties be present or represented at the meeting and may be heard with respect to any proposition before the City Commission in which the City Commission may take action,” the notice further states.
The notice also says that the vote will involve a resolution “authorising the City Manager to execute the host city agreement, in substantially the attached form, by and between the City of Miami, the Bayfront Park Management Trust, South Florida Racing, LLC., and Formula One World Championship Limited.”
Miami’s city manager has been exploring the possibility of hosting an auto race on its streets since May.