Formula One race officials have confirmed that they are threatening to obstruct the views of Strip venues overlooking the Las Vegas Grand Prix course unless they agree to pay a licensing fee.
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The upcoming Nov. 18 race will see the Strip and some surrounding side streets shut down to create the 3.8-mile course, where single-seat, open-cockpit cars will race along Las Vegas Boulevard at speeds reaching up to 223 mph.
For venues with Strip views like Beer Park at Paris, Drai’s Las Vegas at Cromwell, or Ocean Prime near City Center, Formula One race organizers are demanding a fee of $1,500 per person if they wish to allow guests to watch the event from their restaurants or clubs.
According to the New York Post, Liberty Media, the parent company of Formula One, sent letters to these establishments seeking licensing payments and threatening to install barriers to block views of the race course if they refused to pay.
Furthermore, the Post reported that Formula One also threatens to shine lights toward the viewing areas of unlicensed venues, potentially blinding guests trying to catch a glimpse of the nighttime race.
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While race officials have not confirmed the letter’s authenticity or the validity of the threats, they released a statement affirming that they are making long-term investments in racing in Las Vegas and seeking licensing agreements to protect their intellectual property rights.
They believe that the Las Vegas Grand Prix will bring significant economic value to the city and are dedicated to ensuring the fan experience at partner venues meets the event’s expectations.
As of now, it remains unclear which businesses Formula One is targeting with its licensing requests, as many venues on the Strip are already partners with the race, including Caesars Entertainment, MGM Resorts International, Wynn Resorts, Resorts World, Venetian, Hard Rock International (Mirage), and the Las Vegas Convention and Visitors Authority.
The recent partnership allows them to construct grandstands adjacent to the Strip and sell viewing tickets while granting them the privilege to host official events using the league’s branding.
This isn’t the first instance where Liberty Media, owned by billionaire John C. Malone, has sought financial support. In a previous request in May, they asked for $40 million in public funds from Clark County to cover infrastructure costs, estimated to reach up to $80 million.
The county’s approval was narrowly secured with a 4-3 vote, despite some commissioners expressing reservations about diverting funds from other critical projects.
Formula One is looking to impact the U.S. market significantly, with the 50-lap race expected to draw 170,000 people to Las Vegas. The league is keen on showcasing the event’s cars under the dazzling lights of the Strip.
This race is part of a three-year contract, and Liberty Media has already invested substantial amounts, including $290 million for land and an anticipated $500 million to get the race operational.
Liberty Media CEO Greg Maffei believes that the investment will be well worth it, as the Las Vegas Grand Prix promises to be a sensational night race down the iconic Strip, catching the attention of viewers both locally and across the nation.
Maffei foresees this event propelling Formula One to new heights in the United States, generating significant sponsorship interest.
The Las Vegas Grand Prix, scheduled for a Saturday, is a strategic move by Formula One to make a lasting impression in the U.S., alongside another race planned for October in Miami.
The spotlight on this night race along the Strip is expected to be unprecedented, captivating audiences across various television platforms and igniting heightened sponsor interest in the sport.
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