Las Vegas GP Aiming to Break $1 Billion Mark by Staying in F1 Calendar for 10 Years

Over the last few years, F1 has witnessed a huge growth in popularity all over the world. Several countries, which weren’t particularly interested in the sport have taken a keen liking to it recently. The most notable example of this would be the United States of America. It is a country where F1 tried to make its mark in the past with races like the Las Vegas GP but failed to do so on several occasions.

However, the sport’s popularity has massively increased over the last few years. A lot of it is down to the start of Netflix’s superhit docuseries, Drive to Survive which has brought in plenty of new fans to the sport. This has turned the US into a huge market, and some F1 stars are among the country’s most followed athletes.

The sport’s growth in America has also led to the introduction of new races to the calendar. 2022 saw the debut of the Miami GP which was a huge success, and 2023 will see the Las Vegas GP make its debut.

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Las Vegas GP aiming to make $100 million per race

Las Vegas will join Austin and Miami in becoming the third US race of the 2023 season. However, the organizers don’t plan on making this a one-time affair. They plan on having Las Vegas as a marquee race for the next decade at least, and also plan on making a lot of money out of it.

The immediate near future of F1 in the US looks bright. Last year saw two American aces, and there will be three in 2023. On top of that, viewership in the US increased by 1.21 million per race from 2021 and with an American driver in Logan Sargent being on the grid in 2023, the number is set to increase once again.

These factors make the organizers in Las Vegas very optimistic about their returns. They plan on earning $100 million per race and don’t want their ambition to be limited to that.

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Vegas set to crack billion-dollar F1 deal?

The organizers of the Las Vegas Grand Prix want to make this race the biggest on the calendar and want it to stay until at least 2033. They expect $100 million from each race. This means that they could potentially break the $1 billion mark in a decade.

If Las Vegas does break the $1 billion mark, it would officially be the biggest F1 deal in history. Considering the heavy investment made by the organizers, Liberty Media, and F1, it would certainly be a fruitful return for all the parties.

This year’s outing in the Sin City is set to be a penultimate race on the calendar.