F1's Global Appeal: $10B Offer, Dozens of New Race Hosts

Front Office Sports reported that Formula One (F1) remains in high demand, as shown by a reported $10 billion bid for control of the Miami Grand Prix and related assets. This bid, considered by Dolphins owner Stephen Ross, highlights the significant worth of F1 events and venues. Despite hitting its 24-race limit per year, F1 CEO Stefano Domenicali mentioned that more than 35 new venues have shown interest in hosting races, with 11 being strong contenders. This surge in interest spans various global locations, including U.S. cities like Chicago and New York, along with international destinations like South Korea, Thailand, and China.

The increased interest in F1 follows impressive growth, with total race attendance reaching six million in 2023 and revenue reaching $3.22 billion, as reported by Liberty Media. The inclusion of the Las Vegas Grand Prix last year and ongoing races in Miami and Austin reflects F1's expanding reach and global appeal. Despite this enthusiasm, Domenicali suggested that a fourth race in the U.S. beyond Miami, Austin, and Las Vegas is unlikely.