Formula 1 racing seriesFWONK) to Miami this weekend, bringing with it loads of glitz, glamour, and incredible prices.
Miami Grand Prix, sponsored by Crypto.com, is the first F1 race in Miami’s history and only the second in the United States, after one in Austin earlier this year. The third American race comes next year when Las Vegas joins the calendar.
Miami is adding another luxurious tropical setting to the racing chain, which is already promoting tracks in Singapore and Monte Carlo. But Miami got its spot, as it is conveniently located on the densely populated East Coast, close to Latin and South America, and only has a transatlantic flight from Europe.
It is this proximity to a large segment of Formula One fans that is in high demand. For the three-day event located on a purpose-built track at the Hard Rock Stadium complex in Miami, basic grandstand tickets and general admission were starting at just $300 for Friday’s practice session, and $500 for Sunday’s race. All tickets are sold out, and on Verified Sites Like Ticketmaster Race day tickets start around $800 a piece.
It gets more crazy from there. There are many VIP platforms and facilities around the entire route, including Hard rock private beach club and pool areaA “sand” ticket to the beach area costs $1,000 for the weekend, and an enhanced “deck” ticket costs $2,000. The race organizers even built a fake “marina” where the yachts are moored around one corner of the racetrack.
A limited number of three-day hospitality tickets cost About $5,000 to $10,000 sold In the first week. Don’t even bother asking about the Formula 1 Paddock Club, the most exclusive area in every F1 race. Expect to pay even Over $10,000 for this access.
With 300,000 fans expected over three days, hotel room rates are rising as the weekend approaches. Some of the best hotels in Miami offer suites that will eventually end Cost over $100,000 For a three-day weekend. Faena South Beach عرض Show Includes penthouse, access to Red Bull’s Guest House, racetrack and butler.
Along with expensive hotel rooms come expensive dining options. It’s not uncommon to pay $15 for a beer or $40 for a burger in and around South Beach, but on the weekend, prepare for a more turbo bill. Major Food Group, which operates restaurants like Carbone and Dirty French in New York City, Sold from $3000 per person booked dinner In the Miami Carbon Beach pop-up.
“We’ve never seen an order like this. It would be a very interesting experience,” Jeff Zalaznick, managing partner of the major food group He said in a recent interview.
Add it all up and it would be one expensive weekend for fans lucky enough to get tickets, but this should come as no surprise given the high popularity of the sport in the United States. One of the main reasons for the slight increase in the sport recently is the result of the Netflix docu seriesdrive to survive,” which chronicles all the action and drama in Formula One, on and off the track.
“Where a lot of other sports are played almost exclusively on the field, there is a huge amount of sports that takes place off the track, and I think Netflix has really captured the dynamic of that sport,” McLaren Racing CEO Zak Brown said in a recent interview with Yahoo Financeto discuss the impact of Netflix on the popularity of sports.
This in turn raises the team’s profits as well. “The business side of the sport – in my 20 years around Formula 1 and six years driving McLaren, I’ve never seen the sport stronger before,” Brown says.
And more money coming into the sport means newcomers. Before the Miami Grand Prix, Volkswagen (vow) Executive Director German car giants Audi and Porsche confirmed Both will join the sport in 2026, when new engine regulations come into effect.
For a sport that’s usually expanding at an icy pace, the addition of two new big teams, and a brilliant race in Miami, is a sign of how much money is going into the sport.
——
Bras Subramanian is a Senior Automotive Correspondent at Yahoo Finance. you can follow it Twitter and on Instagram.
Read the latest financial and business news from Yahoo Finance
Follow Yahoo Finance on TwitterAnd InstagramAnd YoutubeAnd FacebookAnd FlipboardAnd LinkedIn
“Coffee ninja. Web fan. Hipster-friendly beer enthusiast. Professional creator.”