> ## Content Index > Fetch the complete content index at: https://www.the-race.com/llms.txt > Use this file to discover other available public pages before exploring further. # Outgoing Alpine F1 investor looking at Miami GP stake - URL: https://www.the-race.com/business/outgoing-alpine-f1-investor-looking-at-miami-gp-stake/ - Published: 2026-10-02T14:27:33.000Z - Updated: 2026-10-02T14:35:48.000Z - Description: Otro Capital – the same investment group that famously bought into the Alpine F1 squad - is looking at investing in the Miami GP - Author: Jon Noble - Tags: Business, Formula 1, #miami-grand-prix, #secondary_feature_4 Interest around Formula 1's Miami Grand Prix is big, with the latest intrigue being the possibility of a stake in the grand prix being purchased by Otro Capital – which is the same investment group that famously bought into the Alpine F1 squad. [A report in Front Office Sports](https://frontofficesports.com/article/dolphins-owner-nearing-deal-to-sell-20-stake-in-miami-f1-race/?ref=the-race.com) this week revealed that private equity firm Otro Capital is in talks with Miami GP owner Stephen Ross to purchase a stake in the event – potentially as much as 20%. The Miami GP has declined to comment on the report, but sources familiar with the situation have suggested it is accurate although nothing has been agreed yet. The possible involvement of Otro with the Miami GP is interesting because it comes at a time when it had appeared the investment group was looking to exit its current involvement in F1. Otro has been looking to offload a 24% stake it has in the Alpine team. But despite negotiations with several interested parties, a deal has still not been concluded. Talks advanced with Mercedes before the German car manufacturer pulled out, while former Red Bull boss Christian Horner was interested, but things there stalled after Alpine’s owners, Renault, elected to hold fire on discussions. The Otro stake is understood to remain up for sale, but the discussions with Miami would point to its Alpine position being more about capitalising on a profit made rather than losing interest in F1. Back in 2023, Otro paid $200 million for the stake that valued Alpine at around $900 million. During the Mercedes discussions it emerged that it was targeting a price tag of more than $700 million for it, with F1 team valuations having shot up. A big investment group like Otro voting with its capital to become a part of the Miami GP would be a huge vote of confidence about where it sees the event, and F1, longer term. ### Miami's 'challenging the status quo' The Miami Grand Prix is a fascinating case study in the ingredients needed to make a successful Formula 1 race in the Liberty Media era. There are plenty of examples (think of India, South Korea, Valencia) of new events arriving to much fanfare, having their place on the calendar for a few years but then disappearing for good. Miami has gone from an F1 novelty to a firmly established event in five years, and now has the added security of the joint-longest contract on the calendar that runs to 2041 (it shares the honour with Austria). But Miami is not sitting on its laurels and thinking that bumper crowds and a long deal in its back pocket mean the job is done. Instead, with Miami GP president Katharina Nowak being F1's youngest race promoter, there is an energy and willingness there to try new things, too. “Our strategy for the Miami GP is to always be innovating, to always be challenging the status quo,” she tells The Race in an exclusive interview. “The way we look at our campus, we look at it as a fresh start every single year. We take the feedback and every piece of data we can grab, and think 'let’s be strategic about how we build up next year'. “We've got the flexibility to do so because we have to build everything up and take everything down again. “So, we don't have to build up the same way. We've got the opportunity to continue to be changing and continue to be innovating.” ## New challenges As a race promoter, getting your grand prix established on the F1 calendar is the primary hurdle to get over. Many events have a super successful first year because of the novelty factor - but that freshness soon wears off and it gets harder after that to keep momentum building. Miami has navigated this period well, having had quite a unique narrative, with the first year perhaps its most challenging – thanks to track and paddock difficulties – but things then bedding down and popularity growing. But having got into a nice rhythm now, Nowak explains that the key is understanding that what is a good fit today may not necessarily be the right thing for the future. “I would say the biggest challenge for any promoter is to start to build a fanbase of people that are going to be your core – that come every single year that follow you,” she said. “We have spent the last five years focusing on who our audience actually is. "We don't actually look at year one or year two data anymore, because everyone who got a ticket in year one was there because of the FOMO, and then everyone in year two - those are the people who didn't get a ticket in year one and still wanted to see the race in Miami!” For Nowak, building success is understanding whether what Miami is offering is what those that attend the race actually want. “Every promoter has their own strategy for this, and I think the way that we've focused on approaching it is making sure that, no matter what, we deliver a product that delivers the value for the price tag we are putting out there,” she says. “We spend an entire three months over the summer digging into our audience buyer data and attendee data to say, 'OK, what are they looking for? What products are we making that no longer make sense for this audience, that we now need to shift?' “So we're taking products offline that no longer work for the audience that we built in year one, because it is a completely different audience heading into year six.” There is adapting, too, to understanding where your repeat customers come from. For Nowak, one important understanding was how most fans attending are quite local to the event. “Two thirds of our audience actually comes from the state of Florida,” she says. “That's super exciting for us because when we're talking about continuing to build a sustainable business, and growing that for a long-term perspective, you want a community of people that are going to come year after year that don't have to worry about booking a hotel or a flight, or whatever, because it's a short drive to come to the grand prix. “It's a really good sign for us that we're building a community here for the long run.” ## New name, new buildings The Miami Grand Prix has shown itself willing to act when it sees areas that can be improved. It moved quickly to improve its Paddock Club offerings after a troubled first year. It responded to concerns about the cramped paddock in year one by shifting the team units to the Hard Rock Stadium pitch. Continued change is happening. For 2027, it has a new title sponsor – with Hard Rock taking over the naming rights to the race. This deal is going to include a revamp of its famous beach club. There is also going to be an expanded paddock club down to Turn 1\. That takes the form of a three-story extension adding another 115,000 square feet on its hospitality area – which will allow a further 3,200 guests. Investment into things like that does not come cheap, but it is possible thanks to Miami having that long-term F1 deal in place. Nowak says: “When we made that investment, it was really a long-term vision of a building that could sustain the demand until 2041.” The length of Miami’s F1 deal is important from two perspectives. It shows not only how F1 sees the value in the Miami GP, but it also allows Miami itself to think more longer term. It can make investments and act in a way that is different compared to how things would be done if the threat of the axe was always looming. That approach has given it conviction to build a sustainable business model – something that F1 itself benefits from. But investment for the future is not just about changes to the physical infrastructure. Organisers hosted a Fan Fest on South Beach over race weekend last year – and this was all about building for the future. Nowak adds: “We had thousands of fans come see us over the course of five days. And the exciting part for us on Fan Fest was that over 95% of our attendees were not part of our database that we had built over the last five years. “So they're all net new people who've come and experienced the taste of the Miami Grand Prix, which we're really excited about. “Part of the growth plan for us is to continue to nurture those new fans. “So next year they're buying campus passes, single-day grandstand passes. The year after that, they're now coming back for the full weekend. The year after that, they're hospitality buyers - and so on. "We're continuing to fuel that top of the funnel to bring in and grow our audience in South Florida.” ## More exclusivity Miami Grand Prix organisers readily admit that, as one of Liberty Media’s key destination city races, many of its products are pitched at the premium level. Nowak says: “We are not shying away from any of the type of luxury experiences you can get anywhere you go in Miami – which is why we have built an incredible luxury experience.” Those experiences are evolving, though, with a shift in terms of making things more intimate for those after the more premium day out. Nowak adds: “We see the most flex in our hospitality products, so we've made a lot of adjustments over the last five years. "From having a bunch of 20-to-30 person suites, now, we've got a couple of those - but we’ve got 10-person suites as well. “We’ve seen there's an audience for just a group of friends that actually want to be a level above grandstand, want to have their own space for hospitality and want to have a private area.” But putting a lot of work into Paddock Club does not mean Miami is only chasing the high-paying corporate guests. “For our Campus Pass, we want to make sure that you come and experience the Miami GP if you are on a completely different budget,” Nowak adds. “Our focus is on making sure that we're growing the entire base and making sure that we're continuing to deliver a better experience each and every time.”