(CNN) Formula One could be coming to downtown Miami for the first time as soon as next year.
The sport's owners, Liberty Media, have long sought to expand F1's American footprint and Sean Bratches, managing director of commercial operations, revealed Thursday they had received "preliminary approval."
Further discussion will now take place between the owners, FIA -- motorsport's governing body -- and Miami city authorities, with an inaugural Miami Grand Prix potentially taking place in October 2019.
"We recognize that this is only the start of the process and we will immediately get to work with the various community stakeholders...in order to reach a final agreement," said Bratches in a statement.
"Formula 1 in Miami represents a fantastic opportunity to bring the greatest racing spectacle on the planet to one of the world's most iconic cities, and we are delighted that the journey is underway."
Miami's mayor Francis Suarez expressed happiness that the City of Miami Commission voted unanimously to approve legislation allowing further discussions to begin.
"This is an important step in bringing to Miami one of the most popular sports in the world," tweeted Suarez.
Details of the proposed 2.57 mile (4.14km) circuit were revealed on May 3 by Miami city commissioner Ken Russell, with drivers taking in views of the city's port, crossing the Port Boulevard bridge and circumnavigating the American Airlines Arena, home to NBA side The Miami Heat.
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'Could be more fun'
The notion of a Miami Grand Prix has been widely praised by both drivers and fans, with Mercedes driver Valtteri Bottas saying it will be "good for F1" before admitting "the destination is always a bonus."
But not everyone is overly enamored with the track itself.
Story of the F1 season
Lewis Hamilton sprays second-placed Sebastian Vettel with champagne after winning the Abu Dhabi season-ending race, 11th of his title winning season.
Lewis Hamilton celebrates his 10th win of the season as he takes the Brazilian GP ahead of Max Verstappen and Kimi Raikkonen.
Lewis Hamilton savors the moment after clinching his fifth F1 world title with fourth place behind Max Verstappen in the Mexican Grand Prix.
Race winner Kimi Raikkonen is flanked by second-placed Max Verstappen (far left) and Lewis Hamilton, who finished third after a thrilling US Grand Prix. Hamilton increased his title lead to 70 points over Sebastian Vettel ahead of the final three rounds of the championship.
Race winner Lewis Hamilton had plenty to celebrate after claiming victory in the Japanese GP at Suzuka to lead the world championship by 67 points with four rounds remaining.
Lewis Hamilton (no 44) overtook fellow Mercedes driver Valtteri Bottas under team orders on his way to a decisive victory in the 2018 F1 title race as he extended his advantage over Sebastian Vettel to 50 points.
Lewis Hamilton led from pole position in his famous No.44 Mercedes and took his seventh victory of the season on the Marina Bay street circuit in Singapore.
Hamilton stormed to a record-equalling fifth Italian Grand Prix victory -- overtaking both Ferraris in the process.
Lewis Hamilton celebrates with the trophy on the podium after winning the Hungarian Grand Prix at the Hungaroring near Budapest to extend his title lead over Sebastian Vettel to 24 points.
Hamilton celebrates an extraordinary comeback win at the German Grand Prix to give him a 17-point championship lead as title rival Sebastian Vettel crashed out
Dutch driver Max Verstappen claims a dramatic victory at the home of Red Bull Racing. But how does that impact the Drivers' Championship?
Sebastian Vettel took full advantage of a bizarre incident involving both cars of the American-owned Haas team to claim the opening race of the 2018 Formula One season in Australia.
Vettel -- 25 points
Hamilton -- 18 points
Raikonnen -- 15 points
Vettel won for the second time in as many races at the Bahrain Grand Prix. But the Italian team's victory was overshadowed after one of its mechanics suffered a broken leg when he was hit by Kimi Raikkonen's car during a pit stop.
Vettel -- 50 points
Hamilton -- 33 points
Bottas -- 22 points
An inspired Daniel Ricciardo claimed a remarkable and unexpected victory from sixth on the grid after a tactical masterstroke by his Red Bull team in Shanghai, with furious championship leader Vettel back in eighth place.
Vettel -- 54 points
Hamilton -- 45 points
Bottas -- 40 points
Lewis Hamilton was the chief beneficiary of a late puncture suffered by his Mercedes teammate Valtteri Bottas as he clinched his first win of the season at April's action-packed Azerbaijan Grand Prix.
Hamilton -- 70 points
Vettel -- 66 points
Raikkonen -- 48 points
After his unlikely victory in Azerbaijan, it was a second straight win for Hamilton as he bids for a fifth world championship -- and it could not have been more comfortable.
Hamilton -- 95 points
Vettel -- 78 points
Bottas -- 57 points
Ricciardo nursed his ailing Red Bull to a remarkable victory on the streets of Monte Carlo and with it made up for his 2016 heartbreak on the same circuit.
Hamilton -- 110 points
Vettel -- 96 points
Ricciardo -- 72 points
Sebastian Vettel's 50th career victory saw him replace Lewis Hamilton at the top of the championship standings to cap an emotional day for the Ferrari team.
Vettel -- 121 points
Hamilton -- 120 points
Bottas -- 86 points
Briton Lewis Hamilton won the first French Grand Prix since 2008.
The Mercedes driver avoided the worst of a dramatic start that saw title rival Sebastian Vettel clip Valtteri Bottas. Both drivers sustained damage in the collision, forcing them to pit early them and fall to the back of the grid.
Hamilton -- 145 points
Vettel -- 131 points
Ricciardo -- 96 points
Red Bull's Max Verstappen won a dramatic Austrian Grand Prix as hitherto championship leader Lewis Hamilton and Mercedes teammate, Valtteri Bottas, were forced to retire.
Vettel - 146 points
Hamilton - 145 points
Raikkonen - 101 points
Home favorite Lewis Hamilton was denied a sixth victory at the British Grand Prix as Ferrari's Sebastian Vettel took control of the championship at Silverstone
Vettel - 171Hamilton - 163Raikkonen - 116
Hamilton fought back from 14th on the grid to claim an astonishing victory as Vettel crashed out at Hockenheim.
Hamilton - 188
Vettel - 171
Raikkonen - 131
Hamilton went into F1's summer break with a season-high 24-point advantage in the title race over Vettel after winning at the Hungaroring.
Hamilton -- 213 points
Vettel -- 189 points
Raikkonen -- 146 points
Fernando Alonso's car was launched over the top of Charles Leclerc on the opening corner of the Belgian Grand Prix. Sebastian Vettel went on to win at Spa to cut Lewis Hamilton's lead at the top of the Driver Standings to 17 points.
Hamilton -- 231Vettel -- 214Raikkonen - 146
Ferrari's sea of fans -- the 'Tifosi' -- hold up a flag making fun of Lewis Hamilton, but he has the last laugh, winning the Italian Grand Prix for the fifth time
Having told CNN in April that Miami would be the location of his "dream" circuit, Lewis Hamilton lamented the lack of driver consultation in the plans, pointing out golfers are regularly asked for input on courses.
The likes of Jack Nicklaus, Gary Player, Tiger Woods and Annika Sorenstam have frequently overseen the design of new courses around the world.
"I don't get why, for example, in golf you get all the great golfers who design golf courses, and then you've not got any of the top racing drivers ever in history who ever designed a race track," the four-time world champion told reporters before this weekend's Spanish GP.
"Not that we're designers or anything, but we've not been asked for our input or anything like that."
The reigning world champion, who currently tops the drivers' standings despite an inconsistent start to the season, went on to say the prospective circuit "could be a lot more fun," adding he could think of more appropriate locations in the city.
"Miami is a super cool place, and I was very, very excited to hear about it...and then I saw the layout," said the Briton.
"I dread the thought of a street circuit like we had with Valencia, which wasn't really a great street circuit. It can be very hit and miss, but maybe it's a hit."
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The 33-year-old insisted he didn't want to "make an assumption" before driving it, but said he would be happy to provide "insight" into the layout and "how it could be better," if asked.
There has never been an F1 race in Miami, with Austin, Texas, the only US city hosting an event at present.
One of the supporters of the new proposal is Stephen Ross, owner of NFL franchise Miami Dolphins and a key figure in moving the Miami Open tennis tournament to Hard Rock Stadium in 2019.
"Miami is a first-class global city and Formula One is a first-class global brand," Ross said in a statement.
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"In cooperation with the City of Miami and Miami-Dade County, I am confident we can deliver yet another global event that will be a destination for people from around the world and drive economic value to South Florida."