A grand prix on the streets of Miami in October 2019 will be huge news for Formula 1 and a massive boost for Liberty Media. It would mean the championship's new owner will have delivered on something it's been promising since it came on board.
Liberty cannot afford Miami to fall through, especially after taking the unusual step of putting out a press statement last week in which commercial boss Sean Bratches said he hoped "to bring this vision to life". Indeed, the event is already behind schedule - in a January proposal F1 stated that it expected to make an announcement in April.
The suggestion is that the Miami Grand Prix will not follow the traditional sanction-fee model that Bernie Ecclestone created, and that there will be a form of partnership with F1 and the local promoter working together and spreading the risk. Some have even described it as a 'free' deal - a privilege hitherto enjoyed only by the special case that is Monaco, always treated by Ecclestone as a loss leader.