It took roughly five years, but Formula 1 finally landed another race in the United States.

Formula 1 will race the next decade in the Miami market after securing a venue and landing financial backers. And with the move, parent company Liberty Media’s U.S. strategy is taking shape.

“Now things are coming together,” said Chris Lencheski, chairman of private equity consulting company Phoenicia.

“It’s going to be huge for the series, especially here in the United States,” added legendary motorsports driver Michael Andretti.

F1 agreed to a 10-year deal to bring a second race to the U.S. last weekend. Financials of the deal weren’t released, but motorsport insiders estimate F1 netted in the range of $17 million to $20 million per year under the pact. The Miami Grand Prix will join the U.S. Grand Prix in Austin, bringing four total races to North America as F1 also races in Canada and Mexico.

“The USA is a key growth market for us, and we are greatly encouraged by our growing reach in the US which will be further supported by this exciting second race,” said new F1 CEO Stefano Domenicali in a statement.

Lencheski credited former F1 CEO Chase Carey “for seeing this through” before relinquishing the role and taking a non-executive chairman title. He added Liberty Media would benefit as the race gives it access to a prominent South Florida market that favors top F1 automakers like Ferrari and Aston Martin.

But the next step in F1′s U.S. play could be essential.

“If I’m the CEO of Formula 1, I’m doing all I can to get an American driver in the seat and successful,” Lencheski added.

F1 could use help in the U.S.
Lencheski served as CEO of sports and entertainment marketing firm SKI & Company before selling the agency in 2008. The company formulated F1 sponsorships.

He said for F1 to market effectively market in the U.S., having a native driver would be critical in a sport fueled with nationalism, as it travels worldwide.

Currently, there are no American drivers in F1. Michael Andretti’s father, Mario Andretti, is the most successful American driver to dominate F1, winning the 1978 championship.

And Gene Haas’ F1 team is the only American team in F1 but has no American drivers, something U.S. drivers long ago noticed.