May 3, 2024

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Festivities around Formula One’s first U.S. race of the year, the Miami Grand Prix, begin today. Is the event, now in its third year, already a can’t-miss moment on the sport’s calendar? … Race organizers are hoping for another attendance boost. … Investment from Dolphins owner Stephen Ross shows American intrigue in F1 isn’t slowing down. … A Red Bull executive tells Front Office Sports Today [[link removed]] why the team won’t be taken down anytime soon. … And Mercedes’s boss shoots down a fun rumor, for now.

Also: Red Bull star Max Verstappen has won four of this season’s five races, with his only defeat coming due to a brake failure in Australia. We want to know: Is Verstappen’s dominance making you less likely to tune in to F1 race broadcasts? Reply to this newsletter [mailto:[email protected]] with your thoughts, and we’ll run some of the best responses in an upcoming edition.

— David Rumsey [[link removed]] and Eric Fisher [[link removed]]

From Hype to Staple: Miami GP Now a Formula One Fixture [[link removed]]

Jasen Vinlove-USA TODAY Sports

There is likely no way to ever match the hype and intensity of the Miami Grand Prix’ debut in 2022, but Formula One and race organizers are aiming for the event to remain a high-profile fixture of the sport’s calendar.

The main event—set for Sunday after two days of practice, qualifying, and ancillary events—will be back at the track developed outside of Hard Rock Stadium (above), as will the faux marina [[link removed]] that is designed to help provide that South Florida feel and stands as one of the race’s most distinguishing features. But the challenge for the Miami GP will be to move fully beyond the initial novelty status and solidify its position as a core part of F1.

The initial race two years ago drew [[link removed]] an average audience of 2.6 million, representing the most-watched live F1 race in U.S. history, while secondary ticket prices soared to as much as $32,000. Last year’s average TV audience for the Miami GP fell [[link removed]] to 1.96 million, but it still ranks as Formula One’s second-largest live American viewership total.

This year, Miami GP organizers slashed the price of a three-day Campus Pass general admission ticket to $450, down from $590 a year ago, while the resale market for a single-day pass for Friday’s preliminary events has fallen to as low as $20. Secondary pricing for a single-day ticket for Sunday now begins at less than $200, roughly a third of the low-end pricing typically seen two years ago.

Still, the Miami GP is also quickly becoming a core part of the local sports scene.

“Miami loves events like this. It’s one of the best weekends of the year for all of South Florida,” Jason Shatsky, CEO of TicketRev, a Boca Raton, Fla.–based ticket marketplace, tells Front Office Sports. “There’s a lot of excitement around the fact that F1 is in town.”

Who’s Who

Celebrity sightings have also been an integral component of the Miami GP scene, as the first race drew the likes of Michael Jordan, Tom Brady, and David Beckham, while last year featured Patrick Mahomes, Lindsey Vonn, Serena and Venus Williams, and Shaquille O’Neal.

This year is slated to draw arguably the biggest celebrities of the moment: Travis Kelce and his girlfriend, pop icon Taylor Swift, who are reportedly joining [[link removed]] Mahomes and his wife, Brittany. Given Swift’s halo effect [[link removed]] on the NFL universe during that league’s 2023 season, F1 officials would certainly relish a similar boost in Miami.

“The aspect of wanting to see and be seen [at the race], that’s parallel to the entire city, and there are tons of networking events, parties, celebrations, and brunches all surrounding this race,” Shatsky said. “And some people [drawn to the event] don’t even end up going to the race.”

ONE BIG FIG Trending Up

John David Mercer-USA TODAY Sports

270,000

The total three-day attendance for last year’s Miami Grand Prix. That was up nearly 30,000 fans from the roughly 242,000 that showed up for the race’s debut in 2022 (above). Could Miami set another record of its own this year? There certainly is no lack of options for interested fans: The Miami GP has 30 different ticketed experiences or hospitality structures throughout the Miami International Autodrome built around Hard Rock Stadium, the home of the NFL’s Dolphins.

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Miami GP Highlights Continued Formula One Investment in the U.S. [[link removed]]

Nathan Ray Seebeck-USA TODAY Sports

As Formula One takes over South Florida for the Miami Grand Prix, the investment in the race, its operations, and the fanfare that comes with it is a prime example of continued interest in the sport from U.S. stakeholders.

F1 now has three events in the U.S., which all seem set for long runs in their locales, but each one has its own unique draw. The Las Vegas Grand Prix is owned and operated by Formula One, a clear indicator of belief in the market by Liberty Media, F1’s American parent company. In Austin, the U.S. Grand Prix is managed by Circuit of The Americas, the track that was built with F1 in mind upon opening in 2012. And the Miami Grand Prix falls under the stewardship of Stephen Ross (above), the billionaire owner of the Dolphins.

Las Vegas is a street race that caused plenty of headaches [[link removed]] in the lead-up to its debut, and COTA hosts many other motor-sports events in Austin year-round, but Miami is different altogether. The race takes place on a temporary track that is annually constructed outside Hard Rock Stadium. This year, that meant more than 1,000 workers on-site every day since the March 17 conclusion of the ATP/WTA Miami Open that is also held at and around the football venue.

Return on Investment

A source tells FOS that Ross, who bought a majority stake in the Dolphins in 2008 for $550 million, has privately invested more than $1 billion into improvements at Hard Rock Stadium and its surrounding area during his ownership tenure. During negotiations to bring F1 to South Florida, Ross was said to have offered to fund the $40 million necessary to build out the race’s infrastructure, according to the Miami Herald [[link removed]]. That was back in ’19, at which time Forbes valued [[link removed]] the Dolphins at $2.76 billion. This week, a USA Today report claimed [[link removed]] that Ross recently turned down a $10 billion offer to buy the Dolphins, Miami GP, and Hard Rock Stadium.

While Ross appears to be getting his money’s worth as a race owner and operator, there’s continued intrigue from U.S. power brokers on the team side of things, too. This week, 12 members of Congress wrote a letter [[link removed]] to Liberty Media CEO Greg Maffei raising anti-competitive concerns about the struggles of Michael Andretti’s efforts to enter [[link removed]] F1 after securing a partnership with General Motors.

FRONT OFFICE SPORTS TODAY Why Red Bull Racing Can’t Be Beat (for Now)

John David Mercer-USA TODAY Sports

With the sport’s top driver in Max Verstappen (above) and an innovative, deep-pocketed team partner in Oracle, Red Bull is primed for Formula One domination for years to come, starting at this weekend’s Miami Grand Prix. The team’s commercial director, Nick Stocker, joins the show today to give us a peek under the hood at what all this success means for the future of the brand—and the sport.

🎧 Watch, listen, and subscribe on Apple [[link removed]], Google [[link removed]], Spotify [[link removed]], and YouTube [[link removed]].

LOUD AND CLEAR Talk of the Town

Austin American-Statesman

“No, that’s one of the rumors.”

—Mercedes F1 team principal Toto Wolff (above, right), when asked about a report that he was set to meet with representatives of star Red Bull driver Max Verstappen after the Miami Grand Prix. In an interview with Reuters [[link removed]], Wolff said, “People make up meetings, make up what’s happening with the drivers, but these things should be behind closed doors and everything that’s been out there was not really the right thing.” Verstappen is signed with rival Red Bull until 2028.

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Conversation Starters F1’s Miami Grand Prix isn’t the only big event happening Stateside this weekend. Saturday will also bring the Kentucky Derby, which has a special anniversary. Find out [[link removed]] what the race will be celebrating. Charles Barkley has an opt-out clause that would instantly turn him into a free agent [[link removed]] if TNT loses its NBA media rights. If that happens, which network do you think he should join? Let us know [[link removed]]. The Tri-City Chili Peppers, a team in Virginia’s Coastal Plain League, are set to make history with the first-ever “Cosmic Baseball” game June 1. They’ll be sporting glow-in-the-dark uniforms and playing under black lights. Check it out [[link removed]]. Editors’ Picks ESPN’s Pat McAfee Jokes About ESPN Bet’s Poor Performance [[link removed]]by Margaret Fleming [[link removed]]‘You get knocked down, you come back!’ he said. Powerful NFL Exec to Leave After Shaping League for Decades [[link removed]]by Alex Schiffer [[link removed]]Jeff Pash played a major role in the NFL’s highs and lows for years. Big 12 Commissioner Wants to Expand NCAA Tournament, College Football Playoff [[link removed]]by Alex Schiffer [[link removed]]To Brett Yorkmark, ‘More is more.’ Advertise [[link removed]] Awards [[link removed]] Learning [[link removed]] Video [[link removed]] Podcast [[link removed]] Sports Careers [[link removed]] Written by Eric Fisher [[link removed]], David Rumsey [[link removed]] Edited by Matthew Tabeek [[link removed]], Catherine Chen [[link removed]]

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