F1 signs key new Las Vegas partnership

F1 has announced the signing of a new partnership, with the Las Vegas Convention and Visitors Authority (LVCVA).

The deal with the LVCVA will be key to strengthening the ties between F1 and the city, which will host the second Las Vegas Grand Prix in November.

The LVCVA is the official destination marketing company for Southern Nevada, and will be central to developing the relationship between the third United States-based grand prix and its host city.

“We are constantly pursuing unique and exciting ways to showcase the destinations in which we race and to demonstrate the value that our sport delivers economically, culturally and for the community," said Emily Prazer, chief commercial officer of Formula 1.

"The LVCVA were instrumental in bringing Formula 1 to Las Vegas as a founding partner of the race, and we are thrilled to be expanding our relationship with them to continue to position Las Vegas as the Sports and Entertainment Capital of the World.”

Despite a rocky start to the inaugural running of the race, the event proved a success, with a global TV audience of 59.3 million and an official attendance of 316,000 for the weekend.

In doing so, F1 - and those who went to the Las Vegas Grand Prix - contributed $1.5 billion to the local economy, emphasising the impact and value Formula 1 can bring to the area.

The partnership, which will initially run until the end of 2025, was launched over the Belgian Grand Prix.

Steve Hill, president and chief executive officer of LVCVA added: “We are thrilled to elevate Las Vegas’ visibility by becoming an official partner of Formula 1. 

"In recent years, Las Vegas has made tremendous strides in becoming the Sports and Entertainment Capital of the World and partnering with the world’s premier motor sport organization to host the Las Vegas Grand Prix marked a major milestone in that effort.

"We look forward to working closely with Formula 1 through this new partnership and keeping Las Vegas top of mind for the millions of F1 viewers and fans around the world.”