Las Vegas Wants to Be Permanent Home for F1 Races
With the successful conclusion of the second Las Vegas Grand Prix, officials in Las Vegas are setting their sights on making the city the permanent home for this high-profile Formula One (F1) event. The Las Vegas Review-Journal reports that the Las Vegas Convention and Visitors Authority (LVCVA) and Liberty Media, the parent company of F1, initially entered into a three-year agreement covering 2023 to 2025.
Cars race around the track during the Las Vegas Grand Prix. (Source: Haas F1 Team)
LISTEN TO THIS ARTICLE:Discussions are reportedly underway to secure a more extended agreement that would establish Las Vegas as a fixture on the F1 calendar. LVCVA President and CEO Steve Hill emphasized that the current deal served as a trial period to navigate the complexities of hosting a street circuit race, and efforts to finalize a long-term contract will begin early next year, with hopes of completing negotiations before the 2024 race.
Related: The LVCVA Has High Hopes for 2024 F1 RaceThe original agreement was designed to assess and refine the logistics of staging an event of this scale on a 3.8-mile track that includes a significant portion of the Las Vegas Strip. Hill highlighted that the first three years allowed stakeholders to evaluate and improve the event's execution.
Building on the success of the initial races, officials are optimistic about the potential for a longer-term partnership. Las Vegas Grand Prix CEO Renee Wilm noted that the event has delivered on its promise of being a spectacular showcase for the city, attracting global attention and creating excitement among local and international audiences.
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Learning from the 2023 Race
Improvements made for the 2024 event included better management of lane restrictions and road closures, significantly reducing disruptions for local residents and businesses. Hill explained that adjustments such as shortening the time required to open and close the track contributed to smoother operations.
The changes addressed traffic flow and reduced the event's impact on the city, demonstrating the organizers' commitment to continual improvement. Additional enhancements, such as streamlined equipment installation and clearer traffic patterns, further contributed to the event's success. According to Wilm, the second year's preparations benefitted greatly from the experience and data gathered during the inaugural race.
Attendance figures for the 2024 event reached an impressive 306,000, short of the reported 315,000 that attended the 2023 race. Organizers introduced upgrades for fans, including moving some attendees to premium viewing zones at no additional cost, in an attempt to increase the numbers this year.
In the future, the development of the Grand Prix Plaza is set to expand fan engagement. This new addition will feature activities such as karting, virtual racing, and educational opportunities designed to attract a more diverse and younger audience, while strengthening the bond between the F1 brand and the local community.
The economic impact of the event has been substantial, with analysts projecting it to generate hundreds of millions of dollars, making it one of the most significant weekends of the year for Las Vegas. Hill highlighted that the partnership creates an unparalleled atmosphere that continues to attract visitors year after year. The combination of global prestige and local appeal makes the Las Vegas Grand Prix a standout event, reinforcing the city's ambition to cement its status as a permanent fixture in the F1 calendar.
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