Miami Dolphins owner and real estate executive Stephen Ross is playing a role in a pending expansion of the Formula One racing league to Miami.
The Miami City Commission unanimously approved a resolution to host a Formula One race in downtown Miami as soon as October.
The commissioners resolved to “bring the Formula One Racing Circuit to the City of Miami for the Formula One Miami Grand Prix from 2019 to 2028.”
Liberty Media Corp., the new owner of the Formula One Racing Circuit, has made expansion in the United States a top priority of the European racing league.
One of Liberty’s terms for putting a Formula One race in downtown Miami is that promotion of the Miami Grand Prix be handled by a company affiliated with Ross, chairman and founder of New York-based real estate developer Related Companies.
Ross supports the Ross Initiative in Sports for Equality (RISE), a 501(c)(3) non-profit corporation that tries to improve race relations through sports.
The proposed 2.75-mile route of the Miami Grand Prix would go through downtown Miami, around the American Airlines Arena and across the Port Boulevard bridge over Biscayne Bay.
Now, the only Formula One race in the United States is held in Austin, Texas. The Austin race attracted more than 200,000 visitors from 2012 to 2015, according to data gathered by Formula One Racing Circuit. [Bloomberg] – Mike Seemuth