Las Vegas Near Agreement for Formula One Contract Extension Through 2027

The Las Vegas Grand Prix will remain on the Formula 1 calendar through at least 2027 after executives announced the news on Saturday during a media event ahead of Sunday’s Canadian Grand Prix in Montreal.

The Las Vegas Grand Prix’s inaugural race in 2023 was part of a three-year contract that ends this season with a 10-year approval from Clark County Commissions to have the race on the Strip. Formula 1 had Las Vegas on its 2026 calendar release this past week before Saturday’s announcement.

“We want to make sure that we’re continuing to evolve what we’re doing,” said Emily Prazer, president of the Las Vegas Grand Prix and chief commercial officer of F1. “The intent is a much longer-term arrangement. As we all know, the race has had its challenges, but we’re coming out the other side. So we want to make sure that it continues to work for both sides.”

The 2023 inaugural race was marred by a loose water valve cover that damaged Carlos Sainz’s car in the first practice as well as complaints about high ticket and hotel prices. Figures released this year said the 2024 event, which received better reviews in its second season, generated $934 million in revenue with $45 million raised in taxes.

“The length of extensions don’t really reflect anything other than it just makes sense incrementally, we know what’s going to happen over the next couple of years,” said Steve Hill, chief executive officer and president of the Las Vegas Convention and Visitors Authority. “We’re planning on this being a permanent race, we’ll just keep planning extensions that will probably expand as we go forward.”

For this November’s race, the start time has been moved from its previous slot of 10 p.m. on Saturday to 8 p.m. local time. The Las Vegas Grand Prix Pit Building has also become home to the Grand Prix Plaza in partnership with Round Room Live, featuring karting, educational exhibitions, merchandise and more.