Almost one year ago, Formula 1 officially confirmed that the sport would be making its return to Las Vegas in the final part of the 2023 Formula 1 campaign, by hosting a street race around the centre of the city with part of the track including the well-known Strip.
The Grand Prix is scheduled to take place on Saturday night in Las Vegas, with the goal of being held in primetime for the United States audience given the current huge interest for Formula One in the US.
An first deal was signed for three-years, covering the 2023-25 period, but the F1 top management confirmed from the start that it was targeting a longer-term commitment for the Las Vegas Grand Prix.
On Tuesday, the Clark County Commission heard a resolution to recognise the Formula 1 Grand Prix as an annual event for the next decade, which will lead to a predicted economic impact exceeding $1 billion to the local area.
With this in mind, the commission was requested to recognise the race track on both public and private land in Las Vegas, including roads owned by Clark County – Harmon Avenue, Las Vegas Boulevard, Koval Lane and Sands Avenue – that have to be closed for the race weekend:
“We have a three-year contract with Formula 1, but we anticipate a lifetime in partnership,” explained James Gibson, the Clark County commissioner, before the official vote – “This will open the pathway to be able to do it for at least 10 years. And then beyond that, I’m sure that those who succeed us will see the value in what we’ve done and continue doing it forever.”
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The motion was voted unanimously by the board 7-0, a decision that gives the green light for the required closures each year until 2032.
The resolution also confirmed that Las Vegas wants to keep its late-season slot also in the next few years, pointing out that the set-up of the event was anticipated to take place “a few hours a day for five days, beginning on each Wednesday through Sunday in the week prior to the Thanksgiving holiday in November in the years 2023 through 2032.”
Terry Miller, the project manager for the Las Vegas Grand Prix, was present in order to provide details about the overall plan and admitted that plans for the Las Vegas Grand Prix to remain in November were “on schedule.”
“This is a community-wide opportunity for the labour force, for vendors, for everybody that is excited about a new opportunity in Las Vegas and Clark County. We’re very proud of what we’re doing. This obviously provides labour for construction, but also for the operation of the event itself. if the resolution is passed, it will be years to come. The impact the Las Vegas Grand Prix brings to our community is very significant.” – Terry Miller explained.
Construction is currently underway on a building which will represent the pit and paddock area for the Las Vegas Grand Prix after Formula 1 purchased a 39-acre site for $240m last year. The event will take place on 18 November, making it the penultimate round of the 2023 Formula 1 championship, ahead of the final race of the season, scheduled to take place at the Yas Marina track in Abu Dhabi.
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