AutoGear
  • Latest News
  • AutoGear TV
  • Sustainable Mobility
  • Motorsports
    • Circuits
    • WRC
    • Rally
    • Rally raid
    • WEC
  • English
    • Português
    • Italiano
    • Français
    • Español
    • English
    • Deutsch
    • 日本語
  • STANDINGS
No Result
View All Result
AutoGear
  • Latest News
  • AutoGear TV
  • Sustainable Mobility
  • Motorsports
    • Circuits
    • WRC
    • Rally
    • Rally raid
    • WEC
  • English
    • Português
    • Italiano
    • Français
    • Español
    • English
    • Deutsch
    • 日本語
  • STANDINGS
No Result
View All Result
AutoGear

Rampant costs of the Las Vegas GP do not concern F1.

James Taylor by James Taylor
June 2, 2025
in Motorsports
Reading Time: 2 mins read
0
Custos galopantes do GP de Las Vegas não preocupam F1

Source: F1 Las Vegas/Twitter

Within two weeks, the inaugural edition of the Las Vegas Formula 1 Grand Prix, directly promoted by Liberty Media, will take place. It was necessary to build a new pit building and paddock area with their respective permanent buildings, and over the preparation time, costs have been skyrocketing.

Nothing that worries the company that owns F1, convinced of the profitability of long-term investments. Only this year, about $435 million has been spent on the Las Vegas GP. Still, Liberty Media’s CEO, Greg Maffei, reassured Wall Street analysts.

In a conference cited by the Motorsport.com website, the businessman stated: ‘We have incurred significant expenses in launching the first year of Las Vegas. And that included extra provisions for security and traffic planning, which were required by local regulators. And we had several non-recurring items, such as our exclusive opening ceremony for the first year and the design and launch of our multi-function app and the creation of a fan database.’

Maffei emphasized full confidence in the return on investment in this GP: ‘We remain highly confident in the increased efficiency to operate there and our growing profitability in the second year and beyond. And we remain optimistic about creating broader value that far exceeds the increase in investment and startup costs.’

The American then spoke about the cost increase: ‘I mentioned some of them, increased security, one-time things like the opening ceremony, but there were others like consultants who helped us put it together, allowing costs that were unusual. […]. There are a set of initial costs that are probably higher than originally estimated. I remain very optimistic, we remain very optimistic, as I said, about the overall impact of F1 for Las Vegas and the potential for this race itself to be a profitable exercise.’

And Maffei even hopes that the Las Vegas GP will be one of the most profitable in the entire season: ‘It is still a reasonable estimate of profitability. […]. Remembering how much this impacts us, not only directly but also indirectly, this is a very profitable race for us. As much as it can be measured in the top five. Obviously, we won’t tell the world what the top five are. But we have noticed that this one will have that impact. I still believe that is true.’

Tags: F1Fórmula 1Greg MaffeiLas Vegas GPLiberty Media
Share223Tweet139Send

Related Posts

Max Verstappen’s Dramatic Spiral: “Lost His Mind” in Brutal Grand Prix Clash
Motorsports

Max Verstappen’s Dramatic Spiral: “Lost His Mind” in Brutal Grand Prix Clash

In a shocking turn of events at the Spanish Grand Prix, Max Verstappen has been accused of "losing his mind"...

by Arthur Ling
June 5, 2025
Lance Stroll Faces Uncertain Return Amid Surgery Drama for Canadian Grand Prix
Motorsports

Lance Stroll Faces Uncertain Return Amid Surgery Drama for Canadian Grand Prix

Formula One F1 - Japanese Grand Prix - Suzuka Circuit, Suzuka, Japan - April 5, 2025 Aston Martin's Lance Stroll...

by Carl Harrison
June 5, 2025
Max Verstappen on the Brink of Ban: Who Will Seize Red Bull’s Throne?
Motorsports

Max Verstappen on the Brink of Ban: Who Will Seize Red Bull’s Throne?

Getty Images / Red Bull Content Pool

by Carl Smith
June 5, 2025
Max Verstappen Teeters on Brink of Ban: Who Will Seize Red Bull Throne?
Motorsports

Max Verstappen Teeters on Brink of Ban: Who Will Seize Red Bull Throne?

Getty Images / Red Bull Content Pool

by Arthur Ling
June 5, 2025

Recent News

Volvo concluiu fase inicial da nova fábrica na Eslováquia

Volvo introduces the first multi-adaptive seatbelt.

June 5, 2025
Navio com cerca de três mil automóveis a bordo em chamas ao largo do Alasca

“Ship with about three thousand cars on board on fire off the coast of Alaska.”

June 5, 2025
Max Verstappen’s Dramatic Spiral: “Lost His Mind” in Brutal Grand Prix Clash

Max Verstappen’s Dramatic Spiral: “Lost His Mind” in Brutal Grand Prix Clash

June 5, 2025
Lance Stroll Faces Uncertain Return Amid Surgery Drama for Canadian Grand Prix

Lance Stroll Faces Uncertain Return Amid Surgery Drama for Canadian Grand Prix

June 5, 2025

Newsletter

  • PRIVACY POLICY
  • TECHNICAL INFORMATION
  • EDITORIAL STATUS
  • TERMS AND CONDITIONS

© 2023 AutoGear - Todos os direitos reservados AutoGear.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Latest News
  • AutoGear TV
  • Sustainable Mobility
  • Motorsports
    • Circuits
    • WRC
    • Rally
    • Rally raid
    • WEC
  • English
    • Português
    • Italiano
    • Français
    • Español
    • English
    • Deutsch
    • 日本語

© 2023 AutoGear - Todos os direitos reservados AutoGear.

Enable Notifications OK No thanks