Will F1’s $500 million Las Vegas GP live up to the hype?،
LAS VEGAS – Formula 1 went all-in for its first race in Las Vegas.
The grand prix will take place on Saturday (10 p.m. local time PST) on a circuit that incorporates the city’s famous Strip and will be unlike anything F1 has ever seen before. On the one hand, she opted against the traditional Sunday in favor of a Saturday evening race. F1’s investment in the inaugural event – itself unprecedented for an individual race – amounts to more than half a billion dollars. It could be argued that, from a standalone event perspective alone, this is the biggest race F1 has ever held.
It’s certainly a bit like that to hear F1 people talk about it. But can this event, or any other for that matter, live up to such enormous expectations of the world?
An offer different from the rest
The agreement between F1 and the Las Vegas promoter is unlike anything else in the championship. F1 is so determined to make this race a success that it has disrupted its normal business model by taking on the promotion of the race itself. Under other racing deals, independent promoters pay huge sums to do the same for their events.
There is a clear visual sign of this unique investment in the heart of Vegas, where the impressive F1 paddock was built. This is also reflected in the contractual commitment that F1 has made. Although officially this race has a three-year contract, F1 agreed earlier this year to support this race for at least 10 years. Las Vegas officials have said they want a “lifetime partnership” with Formula 1. The pressure is on to get it right.
The circuit
It is appropriate Las Vegas. Previous attempts to race F1 in Sin City included a championship-deciding race on a circuit built in the parking lot of the Caesers Palace Hotel and Casino.
This time it’s the real deal. One of the most impressive aspects of this race is that F1 was able to convince Vegas to close one of the most famous streets in the world to host the event. Anyone familiar with previous F1 reports on races in New York or London will remember that they rarely included major city centers – even the Miami Grand Prix moved from a proposed race around the Biscayne area Bay has a circuit that wraps around the Hard Rock stadium to the north of the city. With Vegas – probably because F1 agreed to foot the bill itself – logistical issues were not an issue.
One thing is certain: the Las Vegas GP will be spectacular. Not only is there a 1.4-mile stretch of the Strip, but the rest of the circuit takes F1 drivers past some of the city’s most iconic landmarks. The middle section includes a section where cars will pass the Venetian on the left, Caesars Palace and then the Bellagio on the right. Planet Hollywood will then set up just before a heavy braking zone on Harman Avenue.
From a racing perspective, it’s impossible to judge until the cars have run it, but drivers have commented on how fast parts of the racing bracket appear to be when they’ve done simulated races. Fans seem less convinced, with the circuit appearing to miss many obvious overtaking opportunities. In F1, it seems like it can be difficult to convince fans that a track is great, but sometimes it only takes one bad race for people to label a venue a dud. Vegas hopes to put any doubts to rest this week.
What are the departure times?
F1 builds on Vegas’ reputation as the city that never sleeps. The first practice sessions of the week will take place at 8:30 p.m. local time, with the first and third practice sessions of the week being Thursday and Friday respectively.
The times of the two competition sessions stand out:
Qualifications – Midnight
Race – 10:00 p.m.
F1 clearly felt there was no point in racing around Vegas without being able to look at the neon lights of the city’s famous skyline. In November, the sun sets before 6 p.m. in Vegas, but it appears that one of the reasons the times were moved back so far was to minimize disruption and ease locals’ concerns (more information here topic to come). An obvious downside to the schedules from the American perspective means that anyone on the east coast will be watching the race early in the morning.
A more obvious concern about start times is the impact they have on the quality of races. F1 has never held a race this late.
It’s not a balmy summer evening either: even in the desert, November can be cold. Temperatures this week drop as low as 10 degrees Celsius (50 degrees Fahrenheit) at crucial times. Tire supplier Pirelli has moved to counter any problems here by offering the softest tires in its range, which heat up the quickest, but this will still pose a significant challenge for drivers. Add to that the fact that F1 has laid new tarmac on the roads used for the circuit, and the fact that there are no support races this week, and it is clear that the issue of grip will be huge. It wouldn’t be surprising if the tires were a major talking point after the three testing sessions.
F1 has experienced similar temperatures before, notably during testing at the Circuit de Catalunya in Barcelona in February or March. F1 has since moved the pre-season event to the much warmer Bahrain circuit, which tends to host the season opener, where teams get more relevant data and race times.
Expensive tickets and angry residents
The regular ticket price for the average punter has been a big topic of discussion. The average three-day general admission ticket would be $1,667. The next closest is Miami, who joined the program in 2022, for a reported $1,113. Miami costs almost double the average price of the next highest figure, highlighting perhaps better than anything else the current scale of growth opportunities for F1 in America.
On social media, it’s not uncommon to see posts about third-party ticketing sites drastically discounting tickets. Although F1 has yet to officially comment on the ticket sales, what is clear is that the resale value is well below face value, perhaps indicating that F1 and Las Vegas were expecting a little too much of this first event in this department. F1 expects to welcome 100,000 fans per day.
This isn’t the only thing you might have found about this race on social media either. More recently, complaints from Las Vegas residents or vacationers have been significant. Several popular local TikTok accounts have shown the extent of the work F1 and Vegas have done to erect grandstands at key locations around the circuit. One in particular is right in front of the famous Bellagio Fountain, which was briefly turned off during construction. Those who visit the famous monument have complained about the huge new structure which completely spoils the experience.
But the bigger picture is significant for Vegas. Local businesses are expecting to do big business this week.
Greg Maffei, CEO of F1 commercial rights holder Liberty Media, told residents this week: “I want to apologize to all residents of Las Vegas and we appreciate their patience and willingness to tolerate us. “
Maffei then reminded residents that F1 and Vegas hope to generate $1.7 billion in revenue from this event alone. To put that in perspective, ESPN understands that Las Vegas is expecting a lower return in the roughly 14 days leading up to the Super Bowl early next year.
Some locals also seemed baffled by the time it took F1 to build the circuit, although this is common for such an event. Construction of Monaco’s iconic street circuit begins six weeks in advance, while three more are needed at the other end to be deconstructed. Construction of Melbourne’s Albert Park circuit can begin a full month before the event. It’s probably no surprise that there was this reaction, as many famous Vegas venues are purpose-built to host events throughout the year. With F1 and the city wanting a long-term partnership, it is reasonable to assume that this process will become much more efficient and accepted in the years to come.
Is this the new Monaco of F1?
For so long, the famous Monaco race has been considered the jewel in the crown of Formula 1.
Even though the Monte Carlo race is synonymous with F1, the long-term future of the event is not certain. Although the mere suggestion of F1 without the Monaco Grand Prix seems like sacrilege to many people, it is likely to become a reality within a few years. There was no question of a “lifetime partnership” between Monaco and F1, quite the contrary. It is clear that Liberty Media, holder of the commercial rights to F1, and even its boss, Stefano Domenicali, have imagined a world in which the race does not appear on the calendar. Vegas looks like the big shiny new thing in F1. If Monaco represents old money and a bygone era of F1, then Vegas is the complete opposite.
And yet, it is difficult to judge exactly how big this event will be. The city has been so unlucky that its first race comes in a year in which Max Verstappen won the championship in early October, 41 days and three races before the big Vegas debut. F1 and Vegas confirmed this year’s event several months after the conclusion of the gripping 2021 season, which saw Max Verstappen and Lewis Hamilton controversially battle for the title until the final lap of the final race, but From a competitive standpoint, things haven’t been the same since.
But whether the championship is on the line or not, make no mistake: This week’s race is a big deal. A race of this magnitude, and one taken so seriously by one of America’s most famous cities, would have been unthinkable just a few years ago. F1 has spent decades wondering how best to break America. While the United States Grand Prix in Austin managed to regain a foothold in the United States from 2012, the story of the boom caused by the Netflix series Drive to Survive is now well told.
The American F1 landscape has completely changed in just a few years, on either side of the pandemic. Either way, the first Las Vegas race could be a historic next step in the growth of this market.
