The Las Vegas Grand Prix and Formula 1 have officially announced a deal to keep racing until 2027, but both sides are eager to extend their partnership even longer.
The first Las Vegas race took place in 2023 under a three-year agreement on a track that includes a long straightaway along the famous Strip.
Clark County has already laid out plans for the race to continue through 2032, and this week’s calendar showed the Las Vegas race scheduled for 2026, even though there wasn’t an official deal at that time.
On Saturday, Formula 1 revealed the next phase of its contract for this new main event.
“We’ve come together to agree on a two-year extension for 2026 and ’27,” said Emily Prazer, president of the Las Vegas GP, on Saturday. “We want to keep improving what we’re doing. However, our goal is to secure a much longer-term agreement.”
As we all know, the race has faced some difficulties, but we’re moving past them. We want to ensure it remains beneficial for everyone involved.
So, we came together and agreed that this was the best way to proceed. We are definitely thinking long-term, but this is our current situation.
The Las Vegas event in 2025 will happen on November 22, just like it usually does the weekend before Thanksgiving. City leaders credit the race for transforming that weekend from one of its least profitable times into one of its biggest money-makers.
Traditionally, November has been one of Las Vegas’ slower months, but last year it became the most financially successful month in the city’s history.
Reports released this year stated that the 2024 event alone brought in $934 million in revenue and generated $45 million in taxes.
Formula 1 has built a permanent venue called Grand Prix Plaza right in the center of Las Vegas, which functions as the paddock area on race day. With a strong desire from both parties to keep this going for many years to come, there’s no pressure to finalize anything for a longer duration just yet.
Steve Hill, CEO and president of the Las Vegas Convention and Visitors Authority, mentioned: “The length of extensions isn’t really about anything significant; it just makes logical sense as we understand what will unfold over the next few years.
We’re planning for this to be a permanent race; we’ll continue to arrange extensions that may grow as time goes on.”
