F1 confident of amassing ‘massive revenue’ from the inaugural Las Vegas GP

The 2023 Las Vegas GP is scheduled to take place from November 17 to November 19.

F1 confident of amassing ‘massive revenue’ from the inaugural Las Vegas GP

Las Vegas GP (Credits: Autosport)

The hierarchy at F1 has been exploring new avenues in recent years, and the CEO of Liberty Media, Greg Maffei, has admitted that he and the rest of the management of the sport are expecting huge revenues to come their way from this year’s Las Vegas Grand Prix. As per the 2023 F1 calendar, the Las Vegas race is scheduled as the penultimate event of the year.

Greg Maffei is excited about the Las Vegas GP and its potential to generate huge revenue. While discussing the same, he recently said, “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. I’m very excited.”

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 “I think we will make good money this year. But way more important than that is that we have a great experience, for our drivers, for our patrons, for our fans, for our viewers, for everybody involved. That’s the goal.” Looking at the comments of the Liberty Media CEO, it is quite clear that he is extremely optimistic about racking up massive bucks from the 2023 Las Vegas GP.

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Moreover, while the sport is looking to tap into the income-generating potential of the event, Maffei has also made it known that the sport wants to create an atmosphere during the event, that the fans and everyone involved would remember for several years. The Las Vegas GP is shaping up to be one of the biggest events in all of sports entertainment this year.

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Stefano Domenicali’s take on hosting three F1 events in America in 2023

Stefano Domenicali
Stefano Domenicali

The hype around the 2023 Las Vegas Grand Prix has started to build since the very first race of this year, but the F1 President, Stefano Domenicali, feels that it will not have any impact on the other races that are scheduled to take place in America this Year. While talking about the same, he said, “I don’t see any kind of cannibalization. Everyone is different; everything is different, events are different. I don’t see any problem there.”

Stefano Domenicali has made it known that in his opinion, all three F1 races in America have their own different characteristics and are not going to have any adverse impact on each other. He is adamant that all three races in America will have huge turnouts, and the fans would add a lot of energy that would help in making all three events a great success.

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Considering everything that Greg Maffei and Stefano Domenicali have said about this year’s Las Vegas GP, do you think that the event would have an adverse impact on the crowd turnouts that would be witnessed at the Miami GP and the historic United States GP? Last year both events were sold out, and it is going to be fascinating to see which race among the three would be able to outdo the others in terms of crowd attendance.

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