F1 pulled off a major coup earlier this year by securing all the necessary agreements and permissions to use the city streets of Las Vegas and run its cars past some of the city’s major casinos.
A letter of intent from Liberty Dice, a new entity set up by championship owner Liberty Media, sets out the terms of the five-year deal for F1 racing at a track that includes a section on the famed ‘Strip’ of Vegas.
The 17-page letter was posted on social media and confirmed to be true by Sports Business Journal’s Adam Stern with the Las Vegas Convention and Visitors Authority, the government agency that markets events in the city.
The letter is dated March 28, two days before the official announcement of the event – while no specific race date has been given beyond “November 2023” – and its content is likely to to change.
It reveals the date of the inaugural race scheduled for next year, November 18, a week before the American Thanksgiving weekend, and that the contract runs until 2027.
This opens the door to a regular penultimate round of the season, with F1 keen to complete its program the last weekend of November in Abu Dhabi.
Las Vegas runway map
Photo by: Liberty Media
The letter commits to maintaining this same weekend slot for a period of five years, and the night race schedule will be planned so that track activity ends no later than 1:30 a.m. local time each day.
The document also specifies the commercial terms of the event, as well as the bases for the construction and maintenance of the temporary urban circuit. It includes guidelines for a requirement of 900 marshals, 1200 fire extinguishers, 15 cranes and 18 ambulances and tow trucks.
It does not cover plans for the permanent pit and race control facility, which Liberty CEO Greg Maffei revealed in May would be built on land nearby downtown Vegas purchased for $240 million.
Maffei said: “Notably and unlike most places, F1 and Liberty Media promote the race themselves in partnership with local stakeholders and Live Nation.
“Construction of this track will require increased CapEx and OpEx to grow. I would like to note that Liberty Media has entered into an agreement to acquire 39 acres east of the strip to lock in the circuit design and create the capacity for the stand and the paddock, among other places of reception and assistance to the race.
F1 pulled off a major coup earlier this year by securing all the necessary agreements and permissions to use the city streets of Las Vegas and run its cars past some of the city’s major casinos.
A letter of intent from Liberty Dice, a new entity set up by championship owner Liberty Media, sets out the terms of the five-year deal for F1 racing at a track that includes a section on the famed ‘Strip’ of Vegas.
The 17-page letter was posted on social media and confirmed to be true by Sports Business Journal’s Adam Stern with the Las Vegas Convention and Visitors Authority, the government agency that markets events in the city.
The letter is dated March 28, two days before the official announcement of the event – while no specific race date has been given beyond “November 2023” – and its content is likely to to change.
It reveals the date of the inaugural race scheduled for next year, November 18, a week before the American Thanksgiving weekend, and that the contract runs until 2027.
This opens the door to a regular penultimate round of the season, with F1 keen to complete its program the last weekend of November in Abu Dhabi.
Las Vegas runway map
Photo by: Liberty Media
The letter commits to maintaining this same weekend slot for a period of five years, and the night race schedule will be planned so that track activity ends no later than 1:30 a.m. local time each day.
The document also specifies the commercial terms of the event, as well as the bases for the construction and maintenance of the temporary urban circuit. It includes guidelines for a requirement of 900 marshals, 1200 fire extinguishers, 15 cranes and 18 ambulances and tow trucks.
It does not cover plans for the permanent pit and race control facility, which Liberty CEO Greg Maffei revealed in May would be built on land nearby downtown Vegas purchased for $240 million.
Maffei said: “Notably and unlike most places, F1 and Liberty Media promote the race themselves in partnership with local stakeholders and Live Nation.
“Construction of this track will require increased CapEx and OpEx to grow. I would like to note that Liberty Media has entered into an agreement to acquire 39 acres east of the strip to lock in the circuit design and create the capacity for the stand and the paddock, among other places of reception and assistance to the race.