F1 News
Liberty Media boss: 'In the long run, we're going to make a lot of money from Vegas'
- Cas van de Kleut
This season, Formula 1 teams will race on Las Vegas' famous streets. It is the first time since the 1982 season that a Grand Prix will be staged in the city.
'We're going to make a lot of money in the long run'
We will have to wait a while before racing in 'Sin City'. After all, it is the penultimate Grand Prix of 2023, taking place only on 19 November. Nevertheless, the Formula 1 organisation is already very much engaged in promoting the spectacle. F1 and Liberty media are investing as much as $500 million in the project
Liberty Media boss Greg Maffei told The Athletic what he expects from the investment: "We’re going to have a high revenue stream, (and) we’re going to have a high cost stream, but it’s more important that we have a great experience for everybody involved in the first year. I think we will make a lot of money in Vegas over the long term."
Currently, Las Vegas has a contract through 2025 to remain on the calendar, but there is already talk of a possible extension of that contract, until at least the end of 2032. However, this has not been confirmed for now.