What’s Happening?

Formula 1 has yet to race down the Las Vegas Strip, but it looks like it’ll be able to do so for years to come. 

A Tuesday resolution was passed by the Clark County Commission that provides an opportunity for F1 to return to Las Vegas through 2032. The Las Vegas Grand Prix circuit will be recognized on public and private land including roads — Harmon Avenue, Las Vegas Boulevard, Oval Lane and Sands Avenue — which will require street closures each Wednesday through Sunday on the week prior to Thanksgiving, for the next 10 years. 

This comes as F1 prepares for the first edition of the event under a three-year deal that stretches through 2025. The race will be held on Nov. 18 this year, becoming the third United States event for F1. Others will be held in Miami (May 5-7) and at Austin’s Circuit of the Americas (Oct. 20-22). 

The Clark County Commission sees this race becoming a key part of the F1 calendar. Commissioner James Gibson said the commission anticipates “a lifetime in partnership.”

“This will open the pathway to be able to do it for at least 10 years,” he added. “And then beyond that, I’m sure that those who succeed us will see the value in what we’ve done and continue doing it forever.” 

The Las Vegas event is expected to be one of F1’s grandest races, with steep costs for attendance and a paddock buzzing with anticipation for its first edition. It’s expected to deliver an estimated $1.3 billion in economic impact. 

F1 and Liberty Media said the following about the news: “Our current agreement for an annual race extends through 2025. That being said, Formula 1 and Liberty Media have invested in Las Vegas with the purchase of 39 acres of land, building a 250,000-square-foot paddock building and philanthropic efforts to support the local community. 

“Making Las Vegas a permanent Grand Prix stop on the F1 calendar is our goal, and a 10-year approval provides us with the certainty that race weekend would be available on the calendar for the long term.”

Analysis

As risky as it is to lock in an event long-term before you see its first edition, it’s clear that both F1 and Las Vegas see massive potential in this new grand prix. 

The wording being used by Clark County officials show that they believe this event will be an annual classic. Many in F1 are also buzzing about the potential for the race, which could become one of the true crown jewels on the series calendar. 

F1 already has successful events at Circuit of the Americas and in Miami. But the first is more of a traditional grand prix and the latter doesn’t quite hold the same marquee value. This is clearly a step to make this the American grand prix of note moving forward. 

That’s likely to bring about a host of questions. 

Could this become America’s biggest must-see event? Can it possibly rival yearly classics like the Indianapolis 500 and Daytona 500? In truth – no, probably not. Those races have history and, unlike the Las Vegas race, are accessible financially for the typical fan. 

But can it become America’s top F1 event? Surely – which could be concerning news for the other two grands prix. As long as F1 can sustain its current level of success and popularity, having 2-3 races in the United States is an achievable feat. But if the bubble bursts and F1 has to condense its presence in the country, Las Vegas could be an easier sell to keep than the other races.

Can this race become the biggest or most valuable in F1? Possibly, although it’s too early to tell. One would assume traditional dates overseas will remain the pinnacle of the sport. But there’ve been signs that even the Monaco Grand Prix might not be entirely safe in recent years, though the event was recently given an extension until 2025. 

F1 has entered a true golden age for its series, kickstarted by Liberty Media’s marketing efforts and the success of Netflix’s “Drive to Survive.” This feels like a boom period for the sport, particularly in the United States, where it’s as culturally relevant and popular as it’s ever been. 

That’s offered an opportunity for change in the tour. Brands and manufacturers are flocking to the series. Teams like Andretti Global have voiced interest in adding to the car count, while fans are proving more willing than ever to tune in to races at all hours. 

Will this keep up forever? No, probably not. Just look at NASCAR – the sport is doing well to refresh itself now, but it suffered a clear decline in the 2010s after finding a period of peak interest and cultural relevance in the 2000s. 

But now is a time for F1 to capitalize, particularly in the United States. The series has a chance to establish a foothold and traditions it hopes will last for years to come. 

Las Vegas provides a major opportunity to do just that. New grands prix can be short-lived. But if this event proves to be a success, it could become a key part of the calendar looked forward to by fans, brands and competitors alike. 

F1’s committed. Las Vegas is eager to make the event a mainstay on the schedule. Now they just need to make it a success and keep their partners and fans interested in the long term.