F1 Unveils Plan to Build 900-Foot Paddock Facility in Las Vegas » FirstSportz
F1 will host its inaugural Grand Prix in Las Vegas next season and prior to that Greg Maffei, CEO of Liberty Media, has revealed they have appropriate plans in place which will help keep the facilities operational throughout the year to keep.
The owners of Liberty Media have completed a $240 million land purchase east of the iconic Las Vegas Strip where they intend to build a permanent pit and paddock facility.
In addition, the group has indicated that they are focused on ensuring the facility’s “year-round activation” and are in good discussions with their partners.
Maffei said in an interview about the prospects of the new facility: “We have completed the corporate level land purchase from FWON.”
“We are excited about the business potential of this property. We expect year-round activations on this site.“
“The main paddock building, which is estimated to be 900 feet long, the length of three football fields, will be exciting and we are actively working with potential commercial partners to expand our capabilities there.”
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F1’s Liberty Media is doing the promotion for the event itself
Las Vegas is an expensive place to host a race and it has also been revealed that Liberty Media plans to promote the F1 race itself.
“In Vegas, it’s a little difficult to predict capital expenditures as we’re still putting together the program that we’re going to run there.”
“As I mentioned earlier, our goal is to have a facility that is not only great for racing, but also offers the ability to have ongoing activations and events at that facility even when the race is not in progress.”
“I think you should think twice that we could do this well with the capital we have. It will in no way drain us or hold us back.”
“We’re still working on the details [crowd] capacity, but I realize that our founding partners in Vegas, Caesars, Wyn and MGM are seeing incredible demand and we haven’t even announced the official date yet.“
“We will of course provide more details about Vegas in good time.”
Hype around the Las Vegas Grand Prix is at an all-time high and from what Greg Maffei has said about the ongoing preparations, it appears F1 has plans to keep the facilities open for business, albeit no F1 event taking place location the hierarchy is open to other events at the facility.
Additionally, since the sport announced it would be hosting a race in Las Vegas, fans have gone mad and things to keep the facility open for business year-round would depend very much on how successful the administration would be will host the 2023 Las Vegas Grand Prix.
The 2023 season calendar is yet to be released and it will be fascinating to see when management decides to host the Las Vegas Grand Prix.
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https://firstsportz.com/f1-news-reveals-plan-to-build-900-feet-long-paddock-facility-in-las-vegas/ F1 Unveils Plan to Build 900-Foot Paddock Facility in Las Vegas » FirstSportz