Huge new 10-year Las Vegas GP deal vindication for F1's "crazy idea"

Formula 1 CEO and president Stefano Domenicali says that a 10-year contract extension for the Las Vegas Grand Prix represents a "big moment" for the series. 

The race was already guaranteed to be on the calendar until 2027, but its long term future depended on the ongoing support of Clark Country and the Las Vegas Convention and Visitors Authority, as well as the casino organisations whose premises line the Strip.

With that forthcoming after the three initial seasons proved successful for all parties the race will now remain in Las Vegas until 2037.

Domenicali stressed that the race was at the heart of continued efforts to grow the sport in the USA.

“Well, for sure it is a big moment for us,” Domenicali said of the new deal to media including Crash.net. “Because when we had the crazy idea to be in Vegas, there were a lot of people who were smiling inside. But we were not smiling, we were just focused on what we wanted to deliver for the future.

“And the fact that this is a moment where we are already thinking to be for such a long time in the city of Las Vegas, it’s a statement of how F1 is putting flags on a continuous basis in the US market, which is a very important market for the development of our sport.

“And we do believe that these incredible issues that have grown since the first day in such an incredible way will bring results, because the only way to be effective in such a country is to be resilient in being able to be in the right places, create the right events, create the right relationship, create the right network, and be able to succeed.”

He added: "Think about Monaco with F1, how the things have evolved together, and that's our wish, to have the same feeling, with the Vegas community to embrace what we're doing for the sport is the most important thing, for sure, but also the culture of Vegas and the culture of the American fans. That's really why we are so happy to be here today to announce this incredible extension with something that was not given for granted.”

Emily Prazer, President and CEO of Las Vegas Grand Prix, said that the long-term stability allowed the organisation to take the event “to the next level.”

“The race for us is so much more than just the race,” she said. “It's how we fully encompass the entire destination, and we're incredibly proud of everything we've achieved, and how we built it over the last few years, and we have our commitment that we'll continue to push those boundaries, and being as crazy as we have been over the past few years with making sure that we take it to the next level.”

Las Vegas Convention and Visitors Authority president and CEO Steve Hill stressed that F1 has already done a lot for the city.

“It is amazing how far we have come so fast,” he said. “We really just first met Emily and Stefano five and a half years ago. We've had three races, we put an entire circuit together, and now we have 12 more races in front of us, and we always knew once F1 came to Las Vegas that that marriage would last.

“It's great to be able to announce that now. For sure, we really appreciate the partnership. The event is fantastic, and there's nothing like it - having F1 racing down the streets of Las Vegas.

“But it's more than that for us. It changes the brand of Las Vegas, and that is a very hard thing to do. We leverage F1 for international recognition and international interest in our city, and I think we help F1 leverage Las Vegas to grow the US market.”