F1 overestimated interest in its expensive Las Vegas race

No sporting event is settled like clockwork from its first year of existence, so we will have to deal with the obstacles that will stand in the way of the Formula 1 Grand Prix of Las Vegas, including the operating budget was estimated at around US$500 million.

The warning signs were numerous and almost as obvious as the iconic ‘Sphere’ as tickets went on sale for this weekend’s race, the most expensive in F1’s 24-stop calendar.

Given packages that can reach into the seven figures, exorbitant hotel room prices and an average bill of around $2,000 just to get to the venue, this race was never designed with the hope of attracting new car racing enthusiasts or to develop the American market.

The company that owns F1, Liberty Media, has obviously developed this event so that it becomes an unmissable international event for the biggest names on the planet.

“All tickets will be sold out”

Renee Wilm, president and director of operations of the Las Vegas Grand Prix, assured on November 3 that “all tickets will be sold out by the time the event takes place,” during a conference call organized by Formula One. Group.

Now that the race is upon us, tickets are still available, both on the official market and on the resale market. Hotel room prices on the legendary “Strip” have fallen drastically, and all signs suggest that race promoter Liberty has grossly overestimated the ability to pay people to fill the stands.

The price of certain tickets has been reduced by up to 60% of the initial value for certain sessions which will take place before the race, which will exceptionally take place on the night of Saturday to Sunday, at 10 p.m. (1 a.m. in Quebec) . And that’s just the tip of the iceberg.

Local residents have never stopped complaining about the chaos caused by the construction of the 6.2 km urban circuit which will feature a good portion of the “Strip”.

In addition, many rumors have circulated about the exorbitant fees that F1 would have demanded from local traders who have a direct view of the circuit. Formula 1 eventually reconsidered its position, but not before information circulated about the voluntary erection of structures blocking the view in front of certain recalcitrant businesses.

For the show

And several casino workers in the city have expressed concerns about their ability to reach their workplaces after the Strip is closed to allow driver Max Verstappen — who won the world championship at beginning of October — and his colleagues to turn on the circuit which is already nicknamed the “flying pig”.

And Verstappen, who clinched his third consecutive world championship title with six races remaining on the calendar and has won 17 of 20 events so far this season, is not the biggest supporter of the news. stopover in the Nevada desert. Far from there.

“First of all, I think we are here more for the show than for the car race, especially when we take into account the route that has been chosen,” said the Dutchman. And you know, I’m not keen on any of this. Instead, I say to myself: “I’ll go there, I’ll do what I have to do, and I’ll get out of there as quickly as possible.” »

In short, we must expect a fiasco. Unless Las Vegas manages to pull a rabbit out of its hat once again?

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