It was a formula for success.
Crypto.com’s first-ever Formula 1 Miami Grand Prix (US) – which attracted names like tennis greats Venus and Serena Williams, American football quarterback Tom Brady, American former professional basketball player Dwyane Wade, basketball great Michael Jordan, and the former First Lady of the United States, Michelle Obama, back in May – boosted the City’s local economy by $350 million, according to a new report.
‘Page Six’ quoted Richard Cregan, head honcho of the Crypto.com Miami Grand Prix, as stating in a press release, “Our team worked selflessly to create a campus and experience that was unique to the international culture of Miami. We look forward to growing the event and the positive impact it will continue to make here for years to come.”
The 2022 Miami Grand Prix (officially known as the Formula 1 Crypto.com Miami Grand Prix 2022) was a Formula One motor race that was held on May 8th, 2022, at the Miami International Autodrome in Miami Gardens, Florida, United States. It was the first edition of the Miami Grand Prix and the fifth round of the 2022 Formula One World Championship.
The 65,000-capacity Miami International Autodrome is a purpose-built temporary circuit around Hard Rock Stadium and its private facilities in the Miami suburb of Miami Gardens, Florida. The track is 3.363 mi long and features 19 corners with an anticipated average speed of around 139 mph.
‘Page Six’ stated that the South Florida Motorsports released the findings of the first Economic Impact Report, which revealed that tourists spent a total of $150 million during the race week. Additionally, 3,000 local workers paid an excess of $100 million in the days leading up to the event and during the Grand Prix.
The report also states that a total of 243,000 spectators hit the Miami International Autodrome during the three-day fare and television viewing figures went up nearly 30 percent as 23 million viewers tuned in to watch the live action across the United States.
Celebrities flocked to the South Florida City and were spotted hitting parties and hot spots all week long leading up to the big event. A-listers on the scene included American actor Jamie Foxx, American rapper Ludacris, DJ Khaled (American DJ), American rapper will.i.am, American record producers Swizz Beatz, Timbaland, American socialite Larsa Pippen, American rapper Post Malone, and the American professional basketball player LeBron James.
Meanwhile, soccer great David Beckham, American fashion model Karlie Kloss, American football quarterback Patrick Mahomes, American actor James Marsden, American musician Pharrell Williams, American actors Hailee Steinfeld, Ashton Kutcher, and more stars were spotted in the Paddock.
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