LAS VEGAS (FOX5) — The Las Vegas Convention and Visitors Authority board voted Tuesday to extend its Formula 1 Las Vegas Grand Prix sponsorship through 2037, committing $10 million per year for a total of $100 million over ten years.
The agreement, covering the 2028–2037 races held each November in Clark County, was presented to the board by LVCVA CEO and President Steve Hill. The board approved the item unanimously.
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The inaugural Las Vegas Grand Prix in 2023 generated an estimated $1.5 billion in economic impact — the largest single special-event economic impact in Las Vegas history, according to Hill. The 2024 and 2025 races each produced more than $900 million in economic impact. The total estimated economic impact for the first three years of the event is $3.2 billion.
The LVCVA’s sponsorship structure has evolved since the race launched. The original three-year deal carried a $6.5 million annual sponsorship, with additional race support and ticket purchases bringing the LVCVA’s total annual expenditure to approximately $9 million. In August 2025, the board approved a restructured $10 million annual agreement for the 2026 and 2027 races that consolidated ticket access and race support costs into a single agreement.
The new 2028–2037 agreement continues that $10 million structure, which includes ticket access valued at approximately $2.5 million and fully integrates race support costs.
Hill told the board the extension aligns with a resolution Clark County passed earlier this year to support the race through 2037.
“This request does follow an extension of the resolution that the county passed a couple of months ago to extend their support of the race through 2037,” Hill said. “So, we are aligned now with the county on this.”
Hill said the long-term extension enables Formula 1 to make more permanent infrastructure investments that would reduce the time needed to mobilize and demobilize the event each year.
“Formula One is committed to spending money on more permanent infrastructure that will reduce the time that it takes to mobilize and demobilize,” Hill said, adding that the improvements would benefit surrounding businesses and the broader community.
Board member Commissioner Knapp echoed that point, noting that compressing the setup and teardown timeline had been a priority in the county’s resolution and crediting Commissioner Gibson for work on the issue.
Commissioner Knapp also disclosed that Formula 1 has agreed to support a market-wide road safety awareness campaign in the coming weeks. The announcement follows a Clark County report that identified 427 crashes, injuries and fatalities in and around schools over the past 25 to 26 years, along with 75 recommendations for improvement.
“Recently, at my request, Formula One has stepped up to offer their support to accomplish some of the tasks that are considered immediate needs,” Knapp said. “That’s particularly a campaign related to traffic — really a market-wide road safety awareness campaign.”
Knapp said additional details would be communicated to the community in the near future.
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