Which is the most expensive race in F1 history?
Read all about the record-breaking bill that the most expensive Grand Prix in Formula 1 history has raked up in its debut season.
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Ever since the news broke about the Las Vegas Grand Prix, the entire Formula 1 community has been waiting with bated breath to see how lavish the event turns out to be. In recent times, there has been a massive increase in the popularity of the F1 sporting franchise across the pond. This is thanks to several factors such as the Netflix series Drive to Survive, and the recruitment of a US-born driver, Logan Sargeant, at one of the oldest and most successful F1 teams of all times, Williams.
Now, more and more Americans are tuning in to watch the Formula 1 Grands Prix, and this led to the FIA’s “American dream”. The governing body that makes the rules for F1 believe that they should seize this opportunity presented by the rise in F1 viewership in the United States. Thus, they decided to start some new Grands Prix on the US soil, such as the Miami Grand Prix which debuted in the F1 calendar last year, and the Las Vegas Grand Prix, scheduled to take place in November of 2023.
Several reports have already predicted that the Las Vegas GP will be the biggest racing extravaganza that F1 has ever seen, and a new claim from Business F1 has left the F1 town shocked to its core. According to the sources, the first-ever Las Vegas GP is going to cost a whopping $19M, and this amount might go higher up. This makes the yet-to-be-held Las Vegas GP the most expensive race in F1 history. The night race which will take place on the historic Las Vegas Strip will be the first street race to take place in the US, but the authorities are not too concerned about the sky-high bill that the Las Vegas GP will rake up in its first year itself.
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Liberty Media have already spent a record-setting amount to acquire pand for the Las Vegas GP
The money that is allegedly being paid in order to make the Las Vegas GP happen speaks for the fact that it will definitely be a grand affair. Reports have revealed that F1’s parent company, the Liberty Media Group, have already paid $240M to acquire the 29-acre land where the Las Vegas GP street circuit is being constructed. But the cost of organizing the Grand Prix is nothing compared to the projected revenues that are going to come from it. Already, experts gave calculates that the Sin City race will yield $500M in revenue.
In one of his interviews, F1 CEO Stefano Domenicali said that he views the Las Vegas GP as the “Super Bowl of F1”, and indeed, it already seems like the race will surpass America’s biggest football game with ease. Tickets to the event have all been sold out, and they reached an exorbitant price of $2000 minimum, thus making the Las Vegas GP the most expensive race of the 2023 season for the fans.
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Riddhi Mondal
(1821 Articles Published)