Southern Nevada is on the clock as the countdown continues towards the Formula 1 Las Vegas Grand Prix.
On Friday, Liberty Media officials, who own Formula 1, outlined how things are progressing and the economics of what it takes to put on such an event.
Through the third quarter, Liberty Media CFO Brian Wendling said the company has “incurred approximately $280 million of CapEX related to the pit building structure and track preparation.”
According to Gregory Maffei, the President, CEO & Director of Liberty Media, the Las Vegas Grand Prix is costing more than they thought it would since it is “proving to be a bigger spectacle and more impactful than we had anticipated.”
