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FLOYD ON F1: Las Vegas race looks like a bit of a gamble
Start-up costs for the Grand Prix in Nevada has gone up by a staggering 48%.
Las Vegas will host an F1 race for the firste time next weekend. Picture: iStock
He may be 42 years old, but those years have not taken anything away from an F1 driver extraordinaire.
In fact in this man’s case his skill and bravery still impresses, as he brilliantly demonstrated last Sunday as he battled with Sergio Perez for the last step of the podium with incredible moves in the last two laps, resulting in the Spaniard taking the place by just 0.053 seconds.
“The man”, of course, is Fernando Alonso. What a finish.
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F1 moves to Nevada
In just over a week’s time the F1 circus will be on the ground and ready to roll for an overnighter, the first of a planned three, in Las Vegas. Following the media hype, it looks as though Liberty Media perhaps have ideas of moving the “Jewel in the Crown” title from Monaco to the Greater Mojave desert in Nevada.
Watching recent videos regarding the preparation of the circuit, it is proving to be a momentous and money-consuming venture. Construction of temporary grandstands, car parks and cross-circuit bridges for vehicles and pedestrians for the three-day event has created numerous issues with residents and workers.
Roads have been closed, resurfaced and barricaded to be ready for the race. The people who make their living and/or reside in the area are struggling to reach their places of employment and/or homes. Many are apparently beginning to wonder if this F1 event is worth it.
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Costs skyrocket
Expenditure has rocketed. The start-up costs of the Las Vegas Grand Prix having risen from $124 million in 2022 to $183 million in 2023. That’s 48%. Ouch!
The blow is made somewhat heavier by the cost to the Clark County, which is home to the city, of $40 million dollars towards the repaving of some of the streets used for the track. Such costs will ultimately be borne by the ratepayers.
The question being asked is, how does this in anyway benefit the everyday commuter or resident?
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End result a gamble
This, plus the general inconvenience which also affects tourism as many normal features of Las Vegas are either not accessible or functioning will not benefit many retailers.
So will the Las Vegas Grand Prix really be a major entertainment success, a significant income generator? Only time will tell, but I’m not holding my breath.
