One of Formula 1’s biggest achievements this year was being able to finalize all the agreements and permissions needed to use the Las Vegas city streets and run its Formula cars past some of the city’s major casinos, as the first major F1 event in Las Vegas was officially confirmed for the 2023 championship.
A letter of intent from Liberty Dice, a new company created by the sport’s owner Liberty Media, provides details about the five-year agreement for the Formula 1 event on a street circuit which will feature Vegas’s well-known ‘Strip’.
The 17-page letter was posted on social media, and its accuracy has been confirmed by Adam Stern at Sports Business Journal with the Las Vegas Convention and Visitors Authority, the government agency which markets events in the city.
The letter is dated March 28, that is just two days before the event was officially confirmed earlier this year, at a moment when no exact race date was specified, except for “November 2023” – and the fact that its contents are subject to change.
The letter now confirms that the first Las Vegas Grand Prix is scheduled to take place on November 18, a week before America’s Thanksgiving Weekend, and that the current deal is available until the 2027 F1 campaign. That means that most likely the race will be the penultimate round of the championship in the next five years, as the sport plans to end its schedule on the last weekend of November at the Yas Marina Circuit.
The letter also informs that F1 intends to keep this same weekend slot for the five-year duration, and that the schedule for the night race will be planned so that track activity will end no later than 1:30am PT each day. The document also presents the commercial terms and conditions for the Las Vegas Grand Prix, alongside the groundwork for the temporary street circuit’s construction and maintenance. It features information for a requirement of 900 marshals, 1,200 fire extinguishers, 15 cranes and 18 ambulances and tow trucks.
Show your support for Scuderia Ferrari with official merchandise collection from Puma! Enter the online Puma Store and shop securely! And get your F1 tickets for every race with VIP hospitality and unparalleled insider access. Click here for the best offers to support Charles and Carlos from the track!
Show your support for Scuderia Ferrari with official merchandise collection! Click here to enter the F1 online Store and shop securely! And also get your F1 tickets for every race with VIP hospitality and unparalleled insider access. Click here for the best offers to support Charles and Carlos from the track!
It does not cover the plans for the permanent pit and race control facility, as American businessman Greg Maffei, the president and chief executive officer of Liberty Media, announced a few months ago that this would be built on a plot of nearby land in central Vegas recently purchased for $240million.
The Liberty Media CEO explained: “Notably and differently than most places, F1 and Liberty Media are self-promoting the race in partnership with local stakeholders and Live Nation. The build out for this track will require increased CapEx and OpEx to develop. I would note that Liberty Media did enter an agreement to acquire 39 acres east of the strip to lock in circuit design and create capacity for the pit and paddock, among other hospitality and race support venues.” – Greg Maffei said.
Leave a Reply