The “Miami movement.” That’s what Francis Suarez, the mayor of Miami, calls his campaign to build a booming tech-and-crypto-currency sector in the city. Beyond its skyscrapers, the gleaming Atlantic is dotted with boats carrying not the cocaine cowboys of the 1970s but venture capitalists. And the jewel in the crown of this transformation, the event that best symbolizes the city’s journey from grim to bling, is the Formula One Miami Grand Prix, taking place next week from May 3 to May 5.
Considering Miami’s bubbling opulence and its desire to draw in a new generation of arrivistes, it makes sense that Formula One, the most popular motorsport in the world, would find a home here. While NASCAR racing has long been affiliated with southern Florida, Formula One brings an entirely different aesthetic along for the ride. Where two of NASCAR’s official partners are Busch Light and Geico, Formula One’s partners include Rolex and Qatar Airways. While NASCAR’s cars are made by Chevrolet and Ford, Formula One’s are manufactured by Ferrari and McLaren. Indeed, the third Miami Grand Prix is sponsored by Crypto.com, a partnership very much in line with the city’s nouveau tech identity (and indicative of the city’s selective memory: the Miami Heat’s basketball stadium was until recently sponsored by the doomed crypto-currency exchange FTX).
