01 February 2023 , 20:46
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Formula 1 plans to put on the Las Vegas Grand Prix for at least the next 10 seasons, according to local government documents seen by Mirror Sport.
When the event was announced last year, it was declared that a three-year contract had been signed keeping it on the calendar until at least 2025. But it seems the intention is for F1 to keep returning to Las Vegas long beyond that date.
The agenda for a meeting of the Clark County Board of Commissioners, due to take place on February 7, contains an item related to the race. It hints that the plan is for the race to return annually to Nevada for at least 10 years, and to always take place on the weekend before Thanksgiving.
Item 69 on the agenda prompts discussion about recognising the Grand Prix as "an annual event beneficial to Clark County". The plan is also to put in place street restrictions on Las Vegas Boulevard South "for a Special Event for the F1 Las Vegas Grand Prix each Wednesday through Sunday the week prior to Thanksgiving in November in the years 2023 through 2032".
The sport has been to the Nevadan city before, for a couple of races in the 1980s officially known as the Caesars Palace Grand Prix. But the temporary circuit, set up in the parking lot of the eponymous hotel, was widely panned and the event didn't last long.
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F1's modern-day visits to Vegas will be a much more glamorous affair. The plans is to have F1 cars barrelling down the iconic Las Vegas Strip, while the overall weekend is set to be one giant party.
Item number 69 on the agenda refers to the long-term future of the Las Vegas Grand PrixRecent figures estimate the race will have an economic impact of around £1.05bn on the local area in its first year. Assuming that figure will be similar over the course of the 10 years period being planned for, it means an impact of more than £10bn on the local economy.
The annual figure is much larger than the one estimated for Super Bowl LVIII, set to take place in the city in 2024. Plus, as F1 chief executive Stefano Domenicali has pointed out, the Las Vegas GP is set to be an annual event, while the NFL showpiece's visit to Nevada is a one-off.
"Super Bowl will be for one year, but we're going to stay for a long time," the Italian said. We are going to have a continuous flag here in the city, and we are going to mark not only for the week of the event, but we are going to mark F1 in Vegas as a place where we will develop the sport."