Topline
The inaugural Formula One Las Vegas Grand Prix will begin early Sunday at 1 a.m. EST (10 p.m. Saturday night local time) after a rocky lead-up that left drivers unimpressed and fans frustrated, though the race still maintains some competitive and commercial stakes that will shake out following its conclusion.
Key Facts
The grand prix will take place on a 3.8-mile circuit that will see drivers hurtling at speeds in excess of 200 mph down the Las Vegas Strip, which has been outfitted with thousands of tons of pavement and several structures made possible by a $500 million investment from F1.
If the 50-lap grand prix follows the typical duration of other races, it could last around one hour and 20 minutesāan estimation sure to be impacted by cold weather overnight that will lessen tire traction and impact driversā brake usage.
Red Bull and its star driver, Max Verstappen, have already won the team-based and individual driver championships, though Mercedes, Ferrari, McLaren and Aston Martin will be seeking crucial points for the team-based championship, which provides tens of millions of dollars in prize money based on ranking.
The grand prix, one of three F1 races hosted in the U.S. this season, is one of the racing organizationās largest attempts at reeling in more American viewers, coming at a time when the 2023 season is on track to be the second-most viewed season of F1 since its broadcasting rights were reacquired by ESPN in 2018, according to the Las Vegas Review-Journal.
The raceās late start was made as a compromise for European fans, Las Vegas Grand Prix CEO Renee Wilm told Sporting News, noting such fans will be able to watch the race in the morningāthe race starts at 6 a.m. local time in London and 7 a.m. local time in cities like Paris, Rome and Berlin.
The race is expected to generate $1.3 billion for Clark County, the home of Las Vegas.
Forbes Valuation
Forbes estimates Ferrariās F1 team valuation at $3.9 billion, a figure followed closely by Mercedesā $3.8 billion valuation.
Big Number
$65 million. Thatās how much in estimated earnings Mercedes driver and seven-time world champion Lewis Hamilton generated for the year ending May 16, making him the 21st-highest-paid athlete in the world. Verstappen, a three-time F1 champion, brought in an estimated $64 million in the same time period.
Crucial Quote
“I want to apologise to all the Las Vegas residents and we appreciate that they have their forbearance and their willingness to tolerate us,” Greg Maffei, Liberty Media CEO, said in a statement Tuesday, referring to local disruptions caused by the raceās setup and numerous construction projects. Liberty Media is the owner of F1.
Key Background
The days leading up to the Las Vegas Grand Prix have been filled with less than ideal conditions. Ferrari driver Carlos Sainz drove over a loose drain cover during practice Thursday, badly damaging his car and canceling the practice altogether. Fans, who purchase tickets to watch practice sessions, were told to leave an hour before the second practice, which took place after the first canceled session and ended at 4 a.m. local time. Verstappen called the grand prix ā99% show and 1% sporting eventā following Wednesdayās opening ceremony. Despite the rough start, F1 is hoping the race capitalizes on American viewership that has increased significantly since 2018. The 2022 season topped 1 million viewers on average per race for the first time, according to NBC News, which cited ESPN. Netflixās āDrive to Surviveā F1 documentary series has played a significant role in the sportās rising popularity in the states and is directly attributed with the rising number of American F1 fans, Media Play News reported.
Further Reading
Prices Plummet For Las Vegas F1 Grand PrixāHereās Why (Forbes)