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F1 buys land and will promote Las Vegas GP
May 7 Formula 1 is going into the business of promoting its own grands prix. Traditionally, the commercial side of organising races was relatively simple for the commercial rights holder – which at present is Liberty Media. But instead of simply taking a sizeable fee from a promoter for next year's return of Las Vegas to the calendar, Liberty will host the race itself. The news comes as La Gazzetta dello Sport revealed a doubling of Formula 1's commercial revenues for the first quarter of 2022 compared to the same period last year. Formula 1 is reportedly paying $240 million to acquire the 16 hectares of land near the fabled Las Vegas Strip for the permanent paddock and pit...
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