Formula One has pumped the brakes on a controversial plan to force Las Vegas clubs and restaurants to cough up millions of dollars in licensing fees by threatening to block their views of the hotly anticipated Grand Prix race, The Post has learned.
The posh car racing league has slashed the price that venues located along the November event’s 3.8-mile circuit must pay to around $50,000 each — down sharply from a $1,500-per-head demand that would have resulted in a tab of $3 million for a major venue with a capacity of 2,000, as the The Post exclusively reported.
Insiders said F1 — owned by billionaire John Malone’s Liberty Media — has backed down after allegedly threatening not to protect venues from having barricades, lights and other obstructions placed in front of businesses that refused to pay the licensing fees.
