Crypto Platform To Sponsor Miami F1 Race
The promoters of the Miami Formula One Grand Prix has sealed a nine-year deal with cryptocurrency platform Crypto.com.
The race will be known as the Formula One Crypto.com Miami Grand Prix for the duration of the deal.
The agreement, brokered by South Florida Motorsports, is the first commercial partnership to be announced in the build-up to the inaugural event at the new 5.41km circuit in Miami Gardens. The Miami International Autodrome will be the 11th different venue in the US to host a Formula One race over the weekend of 6th-8th May.
Under the deal, a Crypto.com Terrace hospitality area will be established on site, as well as a Crypto.com Fan Zone, which will be staged on the field in the centre of Hard Rock Stadium (pictured).
Jeremy Walls, Senior Vice President, Chief Revenue Officer of Hard Rock Stadium and the Formula One Crypto.com Miami Grand Prix, said, “We are excited for our long-term title partnership with Crypto.com. We share their commitment to innovation and will apply those high standards to the fan experience at the Formula One Crypto.com Miami Grand Prix. This will be an international event and we look forward to growing together on a worldwide scale.”
Crypto.com sponsored the 2021 Sprint series last year after becoming a global partner of Formula One.
Crypto.com also recently agreed a five-year partnership with the Australian Football League and a 20-year naming-rights deal with the sports and entertainment venue formerly known as Staples Center in Los Angeles.
Kris Marszalek, Co-Founder and Chief Executive Officer at Crypto.com, said, “Building on our global partnership with Formula One, we are thrilled to be the first commercial title partner of the Formula One Crypto.com Miami Grand Prix in the city that is fast becoming the crypto centre of the US.
“Technology and innovation are at the core of what we do, which strategically aligns with the sport of racing, and together we will create exciting experiences at the intersection of Web3 and F1 racing.”
