Miami GP boss defends high F1 ticket prices

The lowest grandstand tickets, priced at $640, sold out on the first day of distribution.

General admission tickets ranged from $300 on Friday to $500 on race day, with inflated costs at the many food and beverage stands.

The festival-style event, which drew global interest from fans and advertisers, sold out in three days and drew 240,000 people. But, like the NFL final, its Super Bowl-like draw has priced most people out of the market.

The Dolphins and the Hard Rock Stadium venue are managed by Miami GP boss Garfinkel, who said supply and demand drove the ticket price.

"Well, supply and demand," Garfinkel remarked. "We never had a public on-sale, and demand was so high that ticket prices reflected that."

No cost was wasted in transforming the South Florida arena into a semi-theme park with a beach club, fan zones, and live music throughout the weekend, according to Garfinkel.

"On a Friday, you can go to the track for $300." Campus passes can be used for many purposes. There's so much to do here. The pass isn't normal. You can see a lot of the race track. There's enough to do.

"And then on the top end, we have certain luxury experiences with very pricey tickets." So it was partly supply and demand. But we intend to give that experience to those who bought tickets."

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