The upcoming Las Vegas Grand Prix has divided opinions among Formula 1 fans and paddock insiders. Despite the criticism, however, Liberty Media, the owners of Formula 1, are expecting to generate an income of around $1.7 Billion, per Formule1.nl.
Greg Maffei, the CEO of Liberty Media, recently spoke to The Independent. While apologizing for the trouble the locals faced leading up to the race, he ensured it was for the benefit of all. He said (as quoted by Formule1.nl), “I would like to apologize to the people of Las Vegas. We appreciate that they have so much patience and are willing to tolerate us. But this isn’t just about benefits for the fans who want to watch. We hope to deliver many economic benefits to all of Las Vegas. This will generate approximately $1.7 billion in profits for the region.”
🚨 | Estimated Economic benefit to Las Vegas:
🏎 Las Vegas GP: $1 billion
🏈 2024 Superbowl: $500 million
🚗 NASCAR: $110 million
🥊UFC 285: $90 million#F1 #SuperBowl— Camber Sports F1 (@CamberSportsF1) January 25, 2023
The sport has a pretty solid reason to back the Las Vegas GP. Unlike other circuits on the calendar, F1 actually owns the GP. Reportedly, the sport has made a long-term $500,000,000 investment to make this a reality.
True to form, Vegas has been a gamble for F1. There has been a lot of discontent from fans who are calling the sport out as they feel the race is merely a marketing extravaganza. Locals have been protesting as their pedestrian lives have come to a halt as the “show” is assembled. What is more, even the teams are apprehensive about the given given the very chilly weather and track conditions.
Despite concerning signs, F1 is confident about Las Vegas’ potential
In terms of actual ticket sales, the Las Vegas GP will be the second-worst seller this year. Nonetheless, Maffei is pretty buoyant about its fortunes. “105,000 people are coming. The scale alone makes this the biggest event Las Vegas has ever had,” he added.
American/F1 racing sensation Willy T. Ribbs has also thrown a ridiculous proposition into the mix! He said, “I wouldn’t be surprised if King Charles comes along. Without exaggerating, this will be the biggest race in the history of racing.”
A Verstappen le preguntan si está esperando con ganas el GP de Las Vegas y no la caretea ni un poco…
Eso siempre me gustó de el, el tipo te dice siempre lo que piensa aunque sea políticamente incorrecto.#F1 #LasVegasGP
pic.twitter.com/9aBGyE32BI— El Mejor del Resto 🏁 (@elmejordelresto) November 14, 2023
Almost everyone on the grid is pretty excited to visit the iconic Vegas strip. Well, except for Max Verstappen. The three-time F1 champion was recently quoted by Motorsport.com as saying, “I’m actually not that into it. I’m more like, I’ll go there and do my thing and be gone again,” whilst talking about the Las Vegas GP.
