Reports from The New York Post have surfaced, revealing an eyebrow-raising conflict between the esteemed hotel and casino owners of Las Vegas and Formula 1 owners.
Allegedly, tensions have risen as owners voice concerns that their prized views of the circuit might be cunningly obscured by F1 organizers.
The purported reason? A staggering demand for substantial sums of money in exchange for the privilege of witnessing this high-octane extravaganza.
As per crash.net, a nominal fee of $ 1,500 per person awaits those seeking the ultimate vantage point or encounter “obstructions like barricades, stands and light stanchions” blocking their views.
“They are literally shaking people down saying they will obstruct views unless they pay them,” an anonymous casino owner was quoted.
“It seems insane that they are asking money for a public event that is taking place in the streets.”
As quoted by a different source: “There is a real chance of obstructing views with stands and barricades. I know the hotels are upset about it and they are trying to figure out if they’ll play along.”
Liberty Media have invested a substantial sum of $240 million in procuring 39 acres of land in Las Vegas, earmarked for the development of a novel racing circuit and paddock area.
This move represents a departure from their customary approach of collaborating with local circuit promoters.
Anticipating substantial returns, they are optimistic about generating a remarkable $500 million in revenue from this year’s race.
The pricing for F1 enthusiasts in Las Vegas varies, with a “cheap” three-day ticket being approximately $500, while high-end packages command an impressive $15,000.
The financial gains for F1 will be augmented through substantial fees paid by major Las Vegas casinos and hotels, as well as significant contributions from prominent brands that sponsor the grand prix.