Formula 1 backs down from fight with Las Vegas bars, reduces $3 Million ‘license’ fee to few thousands due to backlash

The much awaited Las Vegas Grand Prix is all-set to take place in November. The drivers and fans are obviously excited, but with them, the bar and hotel owners of Las Vegas too are stoked to see some extra profits too. As most of the clubs and bars in Vegas are close to the track, they would be able to get a full view of the racing track. But naturally, the FIA are not okay with the idea that the shop-owners will get to see the Grand Prix for free.

Thus, the FIA decided to issue a licensing fee of up to 3 Million USD but received massive backlash for their decision. With the harsh criticism of their move, FIA have succumbed to the demands and lowered the fee to only a few thousands. John Malone, who heads the Liberty Media, the franchise that owns rights to Formula One, has threatened to obstruct the view of clubs and bars unless they pay for the license. However, the establishments in Las Vegas have strongly objected to this and refused to pay the exorbitant amount.

After a lot of negotiations, the terms agreed upon by both the parties are – the ticket packages would begin at 2000 dollars and if the hotels and restaurants agree to pay 50000 dollars more, they will receive a live telecast from the grid. Some sources from Las Vegas have said, “There is a certain line they are crossing [by] telling someone who has spent billions on their property that you are shutting the Strip down for construction and then asking them to pay for seats.”

Also read: Alfa Romeo all set to run an aesthetically pleasing C43 ‘Art Car’ at the Dutch GP

Las Vegas GP will be the costliest race ever in Formula One history

The 3 days racing weekend at Las Vegas is costing about 560 Million Dollars. A lot of buildings are being revamped, the streets refined, and over head bridges are being built.  In fact, it’s already been labelled as one of the ‘most aggressive programs of construction and design’ both in Las Vegas and in sports.

They are creating a 3.8 mile race circuit around the infamous Vegas strip which is costing a lot of millions. The race will be from 16^th to 18^th November, and is expected to draw in an estimate of 300,000 fans.

With the decrease in fees for nearby bars and hotels, there is a likelihood of an increase in the number of attendees.The Las Vegas GP is going to be one of a kind and fans can’t help but be super excited.

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