F1 News: Las Vegas Grand Prix 10 Year Contract Could Happen
The Las Vegas Grand Prix could have its contract extended until 2032, according to recent reports from the Clark County Commission. And with the statement from the F1 and Liberty Media, this looks like it will be confirmed.
The Clark County Commission, which is the governmental organisation that runs the area, is poised to make a significant move that will solidify the Las Vegas Grand Prix as a fixture on the city's annual calendar.
According to a resolution, the board aims to officially recognise the Las Vegas Grand Prix as an annual event for a ten-year period, starting from 2023 and extending to 2032. The event is scheduled to take place on the weekend preceding Thanksgiving, providing an exciting and vibrant addition to the city's festive celebrations.
The economic impact of the Las Vegas Grand Prix is expected to be substantial, with estimates suggesting that it will bring over a billion dollars to the local economy.
The inaugural Las Vegas Grand Prix event is set to take place from November 16th to 18th, 2023, and will mark the start of a new era for motorsports in the city. This exciting new event is sure to attract fans from around the world and provide a boost to the local economy.
With the recognition and support of the Clark County Commission, the Las Vegas Grand Prix is set to become a standout event on the annual calendar, providing an exciting and unique experience for both locals and visitors to the city.
Formula One and Liberty Media have said in a statement:
"Our current agreement for an annual race extends through 2025. That said, Formula 1 and Liberty Media have invested in Las Vegas with the purchase of the 39 acres of land, building a 250,000 square foot paddock building and philanthropic efforts to support the local community. Making Las Vegas a permanent Grand Prix stop on the F1 calendar is our goal, and a 10-year approval provides us with the certainty that race weekend would be available on the calendar for the long term."