F1 News: Las Vegas GP Gets Go Ahead For Ten-Year Contract
The Las Vegas Grand Prix has been granted long-term permission to be staged on the famous Strip in the city until 2032, following the recent decision by the Clark County Commission.
This landmark decision has brought excitement to motor racing fans around the world, who have been eagerly anticipating the first-ever race in November. The Grand Prix is part of a three-year deal with Formula One, but the recent ruling by the Commission has opened the door to the possibility of the event becoming a permanent fixture in the city.
According to Clark County Commissioner James Gibson:
"I think it's important to note that we have a three-year contract with Formula One, but we anticipate a lifetime in partnership.
"This will open the pathway to be able to do it for at least 10 years. 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 ruling also allowed for certain waivers, including the use of Las Vegas Boulevard South, on the condition that the closure takes place from Wednesday to Sunday, the week prior to the Thanksgiving holiday in November from 2023 to 2032, indicating that the race's current date towards the end of the F1 season will remain unchanged, providing stability and consistency for both fans and participants.
Formula One and Liberty Media have previously expressed an interest in extending the Las Vegas Grand Prix, their statement read:
"Our current agreement for an annual race extends through 2025. That said, Formula 1 and Liberty Media have invested in Las Vegas with the purchase of the 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."