Liberty Media claims Las Vegas GP will be immensely rewarding, despite the ever-increasing financial costs

The costs around the Las Vegas Grand Prix are going off the roof.

Liberty Media claims Las Vegas GP will be immensely rewarding, despite the ever-increasing financial costs

Las Vegas GP (Credits: F1)

The F1 extravaganza has reached its midway point, and the inaugural Las Vegas GP is not too far away. It is the penultimate race of the ongoing campaign, and Liberty Media has insisted that it is going to be a huge success despite the huge costs that are behind incurred to make the event a possibility.

The organizers of the 2023 Las Vegas GP have left no stone unturned in their attempt to publicize the event, and it is a common belief that the event will be organized at a level that the F1 fans have never seen before. The hype around the event is real, and several fans have been getting restless just by having thought about the upcoming event.

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The Liberty Media CEO, Greg Maffei, was recently asked to talk about the upcoming event, and he told Autosport, “I am pleased to say preparations are running on schedule. Despite inflationary cost pressures, we expect no change in revenue and profitability assumptions that we laid out previously. We are increasing CapEx estimates for the paddock building and track work.”

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“We remain confident in the return profile of this incredible project, which will support the incremental capital investment that we are making.” Moreover, Liberty Media’s CFO said, “Our paddock building is now 85% complete. We expect CapEx related to the Vegas race including both the paddock building structure and track-related CapEx to be close to $400m, of which approximately $155m was incurred in the first half of the year.“

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Las Vegas GP will boast of unprecedented limelight

Las Vegas GP (Credits: F1)
Las Vegas GP (Credits: F1)

While a lot has been said about the costs that are getting incurred for the Las Vegas GP, it is believed that the event will definitely be a huge success. The F1 drivers, the teams, and the various other personnel are excited about the event, and it seems the eyes of the whole world will be on the event.

The Las Vegas strip is extremely well-renowned, and seeing the F1 cars zooming around it at high speeds is definitely going to provide a surreal experience for the fans. It is the penultimate race of the ongoing campaign, and there are very good chances that by then, Red Bull would have secured both the Championships.

Going into the Las Vegas GP as World Champions would be a special moment for Max Verstappen and Co. It would be fascinating to see how the RB19 would perform on an unfamiliar track. There are a lot of unknowns regarding the surface of the track, and the answers to them will only be known during the FP1 session in November.

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