F-1 wants an American home.
In 2018, the city of Miami made a bid to host Formula One auto racing beginning in 2019. The executives who run Formula One auto racing wanted Miami and promised that the race would bring in $700 million for Miami in economic impact. The race never got beyond the conceptual stage. Local residents didn’t want cars racing through the streets. The race, according to organizers and city officials, would have given Miami a platform on the world stage, even though Miami has a lot of global exposure. Formula One is now hoping to hold a race that would use the grounds of the NFL’s Miami Dolphins stadium in May 2021. There is considerable local residential opposition although local politicians seem to have turned a deaf ear to the complaints. Formula One wants the American market but the American market seems to be resisting the event.
There is just one Formula One race in the United States in Austin, Texas. Formula One is now owned by an American communications company, Liberty Media, and getting a second American race is a top priority. But F-1 boss Chase Carey thinks it might take a decade for Americans to embrace the race car circuit. F-1 racing was a financial disaster in the United States and the racing group stopped holding American events in 2007, Formula One races were held at the Indianapolis Motor Speedway between 2000 and 2007. There were no races between 2008 and 2011. In 2012, Austin’s raceway opened and eight races have been held in the Texas capital. Carey takes issue with those who claim Americans are not interested in Formula One events. He pointed out that United States Formula One TV ratings have risen and that there is some digital interest. But getting a second American based event has hit road blocks and closed streets.