F1 and the city of Las Vegas are reportedly getting closer to a deal, according to sources.
According to Sports Business Journal’s Adam Stern, an official announcement about bringing F1 racing to the Las Vegas Strip could be made in the first half of this year, and then F1 and Las Vegas entities are apparently getting closer to an agreement.
If the transaction goes through, no information about who would market the race is known.
For months, F1 and the city have been in discussions. They’re still ironing out the finer points of the race’s specifics and logistics.
In recent months, the Las Vegas Convention & Visitors Authority, Nevada Governor Steve Sisolak, and businesses along The Strip, as well as F1 officials, have all visited the area.
F1’s work is led in part by Chloe Targett-Adams, Global Director of Race Promotion. Steve Hill, President and CEO of the LVCVA, is also involved.
Hill was part of a Vegas group that visited the Circuit of the Americas for the US Grand Prix last October.
“The aim is for the track to pass the iconic dancing fountains” outside the Bellagio while running approximately a mile up The Strip to Wynn Las Vegas, according to Joe Saward, a Europe-based F1 writer.
This year, F1 will add a second US event in Miami. It plans to expand further and hopes to hold the race Las Vegas as early as next year, while sources warn that any delays in negotiations could compel both parties to wait until 2024.
F1 has declined to comment on the situation.