F1 leases $2.3 Billion Sphere for advertising during the Las Vegas GP

F1 will be using the Las Vegas Sphere for advertising during the race weekend.

F1 leases $2.3 Billion Sphere for advertising during the Las Vegas GP

The Las Vegas Sphere (Via IMAGO)

The Las Vegas GP is one of the most highly-anticipated F1 races in recent history. The sport has invested almost half a billion dollars into the race with no stone being left unturned to make it a grand affair. Now, Liberty Media has revealed that F1 will lease the enormous Las Vegas Sphere for the duration of the weekend.

The Sphere is a recently opened high-tech venue that comprises massive HD video screens internally as well as externally. It was built at a massive cost of $2.3 Billion. The venue was being used by Irish band U2. However, Formula 1 has come to an agreement with the management of this new location to pause U2’s stay for three weeks between November 4 and December 1 due to the Las Vegas GP.

The Las Vegas GP circuit runs around the Sphere. As such, the sport will utilize it during the weekend. Liberty Media CEO Greg Maffei revealed that F1 has leased the Sphere for advertising throughout the race weekend at a fixed fee. This in turn would offset the costs of using the location as the land was required for the street circuit.

FS Video

The race will be around the Sphere. So we’re utilising their property. We will own all the advertising on the Sphere for the duration of the race for a fixed fee… which will defray part of our costs. It was a necessary cost for us, because we need to be on their land.

Greg Maffei said as reported by Motorsport.com

F1 set to have a Las Vegas GP recovery brunch in the Sphere

Moreover, Maffei revealed that F1 will utilize the interior of the Sphere to host a recovery brunch on Sunday. The Las Vegas GP will take place on Saturday night at 10 pm local time. Subsequently, the Liberty Media CEO highlighted that fans and the teams would need a morning to recover from the hectic Grand Prix night.

A representative image for the Las Vegas GP (image via F1)
A representative image for the Las Vegas GP (image via F1)

As such, Formula 1 will host a recovery brunch for the paddock on Sunday morning in the Sphere. The brunch would showcase the highlights from the race as well. Additionally, Greg Maffei insisted that F1 wants to build a long-term relationship with the Sphere. As the Las Vegas GP is planned to stay on the F1 calendar for years to come.

We're going to have a recovery brunch, and you will need to recover, on Sunday morning, in the Sphere. And we will be showing highlights of the race internally.

Formula 1 will be utilizing the Sphere more in the coming years. The sport aims to maximize the attractions for the race weekend. The Las Vegas GP has high expectations with the city expecting to earn over a billion dollars as well. However, it remains to be seen if the inaugural race on the iconic Vegas Strip is a success.

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