Las Vegas Increases Investment in Formula One Grand Prix for 2026-2027

The Las Vegas Convention and Visitors Authority (LVCVA) is preparing to enhance its investment in the Formula One Las Vegas Grand Prix by committing $20 million for the 2026 and 2027 races. This sponsorship, amounting to $10 million annually, marks an increase from the initial deal of $6.5 million per year over three years, which was set to end after the 2023 race. This new agreement will be voted on at the upcoming LVCVA board meeting.

The revised sponsorship aims to bolster the event's presence and economic impact on Las Vegas, which was significant during the initial races. Last year's event attracted 306,000 attendees over three days, with 175,000 unique visitors contributing to an estimated economic impact of $934 million. Both LVCVA and F1 officials are optimistic about making the Grand Prix a staple event in Las Vegas, traditionally scheduled for the weekend before Thanksgiving.

Liberty Media, F1's parent company, has significantly invested in the Las Vegas area, spending $500 million on acquiring land and infrastructure, including a state-of-the-art pit building. Additionally, Grand Prix Plaza is now open to the public beyond race weekends, offering various fan experiences such as karting and virtual racing, further integrating the event into the local culture and economy.