Revamping the iconic Las Vegas Strip into a Formula 1 racing circuit is no easy task, but that is exactly what the organizers of the inaugural Formula 1 Heineken Silver Las Vegas Grand Prix are attempting to do. With a $560 million budget, this ambitious civil-planning and engineering project is currently underway and is set to take place from November 16 to 18.
The project first began in June 2022, when John Malone’s Liberty Media, the owner of the Formula One Group, purchased 39 acres of land on the northeast corner of Koval Lane and Harmon Avenue for the construction of the Paddock Building. Construction materials were immediately purchased in order to avoid supply chain delays. A groundbreaking ceremony was held in November 2022, and the organizers expect to earn an occupancy permit by October 2023.
Renee Wilm, the chief legal and administrative officer of Liberty Media and CEO of Las Vegas Grand Prix, explained how the project came about. After Liberty Media acquired Formula One, Wilm received a call from her colleagues in London expressing their interest in holding a race in Las Vegas in 2023. She was tasked with initiating the dialogue with regulators and local stakeholders. With the support of business owners, Clark County Commissioners, the public works department, and the Las Vegas Convention and Visitors Authority, Wilm was able to move the project forward.
Creating the 3.8-mile raceway involved an extensive street-paving project, which started in April and affected the Strip and adjacent roads. This caused disruptions for resort guests and casino employees servicing the 150,000 rooms in the area. However, the organizers are working hard to minimize traffic disruptions and are addressing concerns from each resort individually.
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One of the main attractions of the Las Vegas Grand Prix is the multistory Paddock Building, which is estimated to cost $480 million and was completed in record time. This building will house the racing teams, with each team having three days to build out their space and construct two cars for the night race. The building features the Paddock Club and suites, as well as the Wynn Grid Club and additional viewing areas. The main grandstand, located across the track, can accommodate 18,000 people, with skyboxes on top.
The Wynn Grid Club, positioned as a year-round membership program, offers an exclusive experience overlooking the first turn with an outdoor terrace. It includes a chef’s table and cocktail experience, as well as access to F1 experiences like meet-and-greets. There will also be a non-branded-Wynn Paddock Club offering similar amenities.
In terms of ticket options, there is a wide range available. From general admission at the new Sphere Las Vegas and grandstands with food by Wolfgang Puck to premium clubs with various zones throughout the track, there is something for everyone. Prices for the premium clubs start at $5,500 and go up to $8,000 plus taxes and fees.
The launch of the Grand Prix in Las Vegas is part of a U.S. growth plan by the Formula One Group. The popularity of Formula 1 in the States has been boosted by the success of the Netflix docuseries Formula 1: Drive to Survive. However, one challenge for the organizers is figuring out how guests and employees will access the 23,000 hotel rooms within the circuit when the race closes four streets from 7 p.m. to 2 a.m. for three days.
Overall, the Formula 1 Heineken Silver Las Vegas Grand Prix is an ambitious project that is set to transform the iconic Las Vegas Strip into a world-class racing circuit. With state-of-the-art facilities and a range of ticket options, this event is sure to attract motorsport enthusiasts from around the world.
