F1 Las Vegas GP is here to stay for the next 10 years: Reports

The Las Vegas Grand Prix will feature on the F1 circuit for at least the next 10 seasons, according to widespread reports.

Last year, Formula 1 announced the addition of a third Grand Prix in the United States from 2023, with Las Vegas picked to host a night race on a custom-built street track.

Liberty Media, F1’s parent company, had announced that they will work together with the Las Vegas Convention Authority and several entertainment brands within the country to promote the new event and build on the growing popularity of the sport.

The Las Vegas Grand Prix joins the Austin race at the Circuit of the Americas and the Miami Grand Prix to become the third F1 race in the United States of America. When the Las Vegas race was announced, it was stated that a three-year contract had been signed, keeping it on the F1 calendar until at least 2025.

However, according to a report by the Mirror, who reviewed a few local government documents, plans are in place to hold the Las Vegas Grand Prix for at least the next 10 seasons.

The report states that a meeting of the Clark County Board of Commissioners, scheduled to take place on February 7, contains an item related to the race which hints at plans for it to return annually to Nevada for at least 10 years. It also states that the race will always take place on the weekend before Thanksgiving.

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Inaugural Las Vegas F1 Grand Prix expected to have $1.3 billion economic impact

According to an economic impact report conducted by Applied Analysis, the inaugural Las Vegas Grand Prix is projected to have an overall economic impact of almost $1.3 billion. This number includes $966 million in projected F1 visitor spending and $316 million in event operations and support costs.

Las Vegas Grand Prix CEO Renee Wilm noted that the inaugural race is expected to see around 100,000 attendees daily for practice, qualifying rounds and the Grand Prix itself.

“The truth is that we sold out so quickly on the first wave that the European and our Asian fans didn’t even get the chance, due to the time zones, to participate,” she said (via Las Vegas Review Journal).

Applied Analysis also put together a report for the 2024 Super Bowl, which is set to take place at the Allegiant Stadium in Las Vegas. The report stated that the NFL’s championship game (and other related events) would leave an economic impact of $600 million.

Speaking about why the Grand Prix was a bigger deal to Nevada than the Super Bowl, Formula One president and CEO Stefano Domenicali said (via Las Vegas Review Journal):

“Super Bowl will be for one year, but we’re going to stay for a long time. We are going to have a continuous flag here in the city, and we are going to mark not only for the week of the event, but we are going to mark F1 in Vegas as a place where we will develop the sport.”