F1 reveals plan to build 900 feet long paddock facility in Las Vegas
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Las Vegas Grand Prix
F1 is going to stage its inaugural Las Vegas Grand Prix next season and ahead of it, Liberty Media CEO Greg Maffei has made it known that they have proper plans in place that will help in keeping the facilities operational all year.
The owners of Liberty Media have completed a purchase of land worth 240 million dollars east of the iconic Las Vegas strip where they intend on building a permanent pit and paddock facility.
Moreover, it has been indicated by the group that they are focusing on ensuring “year-round activation” on the facility and are in healthy discussions with their partners.
Maffei while discussing the prospects of the new facility said, “We completed the land purchase at the FWON corporate level.”
“We’re excited about the corporate potential of this property. We do expect to have year-round activations on this site.“
“The main paddock building which is estimated to be 900 feet long, the length of three football fields, will be exciting and we’re actively working with potential commercial partners to expand our opportunities there.”
F1’s Liberty Media is doing the promotions of the event by itself
Las Vegas is a costly place to stage a race and moreover, it has come to attention that Liberty Media is planning on self-promoting the F1 race.
“On Vegas, it’s a little hard to forecast the Cap-Ex because we are still putting together the program that we will undertake there.”
“As I mentioned, our goal is to have a facility which is not only magnificent for the race but has the opportunity to have ongoing activations and events at that facility even when the race is not underway.”
“I think you should be well thinking that we could well manage this within the capital that we have. It’s not going to drain us in any way or stall us.”
“We’re still working through the specifics on [crowd] capacity but I note that our founding partners in Vegas, Caesars, Wyn, and MGM are seeing incredible demand and we haven’t even announced the formal date.“
“We will obviously share more details on Vegas in time.”
The hype around the Las Vegas Grand Prix is at an all-time high and after looking at what Greg Maffei has said about the ongoing preparations, it seems that F1 has plans to keep the facilities open for business even when there is no F1 event taking place, the hierarchy is open to having other events on the facility.
Moreover, ever since the sports’ announcement of staging a race in Las Vegas, the fans have been going crazy and things regarding keeping the facility open for business purposes throughout the year would very much depend on how successful the administration is going to be in the staging of 2023 Las Vegas Grand Prix.
The 2023 season calendar is not out yet, and it is going to be fascinating to see around which time the management decides to stage the Las Vegas Grand Prix.
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Rishabh Negi
(3244 Articles Published)