F1 returned to Vegas for a first grand prix in 41 years with the 2023 event eventually won by Red Bull’s Max Verstappen, using a new track incorporating the city’s famous Strip.
But the event attracted considerable criticism for some initial ticket packages costing close to $1,000 for just the Thursday practice running, before prices fell considerably closer to the event.
This decision was down to promoter Las Vegas Grand Prix Inc, which is owned by F1 commercial rights holder Liberty Media, trying to implement “the learnings we saw in Miami in year one” in terms of expensive hospitality offerings, according to event CEO Renee Wilm.
Speaking at the Motorsport Stage at Soho Beach House ahead of this weekend’s third Miami race, Wilm was asked what the main lesson LVGP had picked up following its first event as an F1 race promoter last year.
“We really did take some of the best practices from around the globe that we incorporated into our event,” she replied.
“But we also would love to set the bar even higher with that fan experience and on the sporting side. So, we couldn’t have been prouder that it was a fantastic race.
“I think one of the biggest takeaways for us was the fan engagement and creating a product ladder that was more accessible via a wider variety of fans.
“We leaned very heavily on the high-end, VIP hospitality outside of the paddock based on some of the learnings we saw here in Miami in year one.
“And, unfortunately, that led to a lot of our fanbase really not being able to afford the ticket to be on track, and that’s not something we want to do – we never want to isolate our fans.
“So, this year we’ve completely revamped and we’ve added about 10,000 additional, much more affordable tickets.
“Some leaning in on entertainment, some closer to the paddock so that you can be part of those initial turns of the track.
“And then much lower priced in the Flamingo Zone to allow those entry-level backpackers to really enjoy the event.”
Tickets on the LVGP Inc website currently have general admission tickets for the 2024 event available from $150, with the top level hospitality packages at $12,500.
Wilm also said “from a personal perspective, I would love for the Las Vegas GP to be the last race of the season” in the future but admitted F1 had to be “respectful to our partners” in this regard.
Since 2014, F1’s season finales have all taken place at the Abu Dhabi track.
“I now know, first-hand, how hard it is to be a promoter,” Wilm added.
“I think one of the takeaways from this project has made us a lot more sympathetic to what it takes to put on this kind of event.
“I think it would be an incredible opportunity for the Las Vegas Grand Prix, but it would be a big concession from our partners in the Middle East.”
