Formula 1 forecasts eyewatering revenue from Las Vegas Grand Prix

Las Vegas will host a Formula 1 street race next season as part of one of the sport’s most lucrative deals ever.

Since the Formula One Group came under the ownership of American company Liberty Media, the influence of the sport in the USA has grown year after year.

The release of Netflix’s ‘Drive to Survive’ has given American fans access to behind the scenes footage and understanding that has got them hooked on the sport, having previously preferred IndyCar and NASCAR.

The Grand Prix last year in Austin broke the race attendance record, proving that Formula 1 is becoming an increasingly popular sport in the United States.

The Grand Prix in Austin last year was joined by a race in Miami for the first time last season and the USA’s presence on the calendar is set to increase once more next season.

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The Formula 1 world will travel to a third US Grand Prix in 2023, with Las Vegas joining the calendar to make its debut.

The Grand Prix will be a street race around the famous Las Vegas strip, with many of the iconic landmarks that can be found in LA featuring around the circuit.

With Heineken Silver and T-Mobile already being confirmed as sponsors for the race, naturally, a race is Las Vegas is highly likely to be one of the most lucrative ever seen in F1.

It has been reported that Formula 1 is expecting to earn an eyewatering $500m in revenue for the first Las Vegas Grand Prix, as the world clambers to watch the pinnacle of motorsport travel to the showbiz centre of the world.

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Another exciting addition to Formula 1 for American fans next season is the signing of Logan Sargeant to Williams, as the American driver will be racing in his home country three times next season, including his official home race in Miami.

Excitement for the race in Las Vegas continued to ramp up towards the end of last year as a party was held to celebrate the first F1 race in the state, a party which was attended by both Red Bull and Mercedes drivers.

A Red Bull was driven through a casino while an underlit W13 performed donuts on the street, giving fans in the region their first ever sight of an F1 car in Vegas.