Formula 1 owner Liberty Media says it is finally set to complete a deal to take control of motorcycle racing series MotoGP after receiving approval from the European Commission.

MIAMI - The speed limit near Hard Rock Stadium will be raised significantly after an agreement was reached to bring a Formula One race to South Florida. But auto racing fans should pump the brakes before getting too excited about seeing the red lights go out to start the proposed 2021 grand prix. "With an estimated annual impact of more than $400 [million] and 35,000 room nights, the Formula 1 Miami Grand Prix will be an economic juggernaut for South Florida each and every year." While the race would mostly take part on stadium grounds, a half-mile stretch of the course would include Northwest 199th Street. Hard Rock Stadium would be a compromise location for the race after original plans to hold it in downtown Miami were stymied by residents with similar complaints to those in Miami Gardens.