Major news coming just days ahead of the Las Vegas GP is that the F1 authorities have taken the necessary steps to shut down a famous building in Sin City. The $3,600,000,000 worth Las Vegas Sphere will be under F1’s control throughout the weekend, and when racing begins on The Strip, the building will go dark.
As per the latest update from Fox Sports, the sports authorities will use the 111m tall building to try and earn a profit. Since the inauguration of the building in September, the famous sphere has become a major attraction of the city.
“The race will be around the Sphere. So we’re utilizing their property. We will own all the advertising on the Sphere for the duration of the race.”
Iconic rock band U2 is on a 25-show tour of the sphere and last performed at the venue on November 4th. Their next performance will be on December 1st, with F1 leasing out the venue for the window in between.
Liberty Media CEO Greg Maffei revealed they have the internal as well as the external screening rights of the building and will use the screens to “advertise for a fixed fee.” Furthermore, the authorities have bundled up sponsorships and advertisement deals to be sold directly to the interested parties so they can make up for the cost of the multi-billion dollar building’s lease.
Why isn’t everything hunky-dory about the Las Vegas GP?
The F1 authorities have spent over a whopping $500 million in the organization of the Las Vegas GP. As a result, there are undoubtedly huge expectations for the authorities to generate good revenue, but it doesn’t look like they would be able to achieve the same.
The third race in America this year is drawing a lot of criticism for the track layout and for not planning around the city’s temperature. Apart from that, the heavy construction and the major makeover of some of the city’s most iconic attractions has made it even more difficult for fans to keep a smile on their faces.
Various diversions and regular traffic jams have made life tricky for the locals, who are growing tired of the unwanted chaos around the race. Protests have started erupting in Sin City, with some locals tearing off the films that prevent a bird’s eye view of the race from various bridges.
In response, a spokesperson of the Las Vegas GP mentioned they have contacted the local authorities to ensure a “constant flow of foot traffic” so that drivers are safe from anything the pedestrians might throw at them. Meanwhile, it will also ensure the safety of the people using the bridge from any flying debris that may hit them.
