A Miami Grand Prix appears to be crossing its last hurdles, as the proposed venue released a statement saying an agreement has been reached with F1.

A Miami Grand Prix could be on the calendar as soon as 2021, according to reports emerging from America.

The Hard Rock Stadium in Miami has released a statement attributed to the stadium’s Vice Chairman and CEO Tom Garfinkel of the Miami Dolphins, as well as F1’s Commercial Operations Managing Director Sean Bratches saying: “We are thrilled to announce that Formula One and Hard Rock Stadium have reached an agreement in principle to host the first-ever Formula One Miami Grand Prix at Hard Rock Stadium. With an estimated annual impact of more than $400 million and 35,000 room nights, the Formula One Miami Grand Prix will be an economic juggernaut for South Florida each and every year.”

“We are deeply grateful to our fans, elected officials and the local tourism industry for their patience and support throughout this process. We look forward to bringing the greatest racing spectacle on the planet for the first time to one of the world’s most iconic and glamorous regions.”

Garfinkel himself posted images on Twitter, saying: “The world’s greatest racing F1 has never been to S. Florida. Imagine people coming to this region from around the World in May. Multiple passing zones and world-class clubs and amenities. Barcelona, Monaco… Miami… make it happen.”

The race is yet to be formally confirmed by Formula 1, or be granted permission by county commissioners for Miami-Dade. According to The Miami Herald, there has been protests against the race from local communities with named commissioner Barbara Jordan proposing legislation to require a full commission vote for F1 to be given a full county approval for the required street closures near the Hard Rock Stadium.

The issue of the protests doesn’t appear to be the fact a race is proposed, but rather the venue itself, although a plan for a downtown Miami race was also shot down due to the interruptions to business as the racetrack would be constructed on an annual basis. A more detailed report of local concerns can be read here.

If approved, this would be a second race in the United States on the calendar – joining the United States Grand Prix held at the Circuit of the Americas in Austin, Texas.

All images from F1 Miami