LVCVA to vote on $20M sponsorship deal for pair of F1 races

The Las Vegas Convention and Visitors Authority is set to spend $20 million to sponsor the 2026 and 2027 Formula One Las Vegas Grand Prix races.

A two-year sponsorship agreement for $10 million per year will be up for a vote at Tuesday’s LVCVA board meeting, according to the meeting’s agenda.

The deal would be an increase from the LVCVA’s initial three-year sponsorship with F1. In 2022, Las Vegas’ tourism arm agreed to spend $6.5 million per year for three years, for a total of $19.5 million.

The initial three-year contract with F1 began in 2023 and expires after this November’s race. Both sides worked over the last year on the new, shorter-term deal that will allow for continued talks ahead of extending the race beyond 2027, LVCVA President and CEO Steve Hill told the Review-Journal earlier this year.

“Then we’ll take a look at it in a couple of years,” Hill said in June.

Both F1 and LVCVA officials have stated that they expect the Las Vegas Grand Prix to be a permanent fixture the weekend before Thanksgiving in Las Vegas.

F1 already announced the schedule for the 2026 Las Vegas Grand Prix, tabbing it for Nov. 19-21, 2026.

Last year’s race drew an announced three-day crowd of 306,000, according to race officials. Race weekend drew 175,000 unique visitors, resulting in an estimated $934 million economic impact, according to financial consulting firm Applied Analysis.

F1’s parent company Liberty Media invested $500 million in Las Vegas, acquiring 39 acres and building a three-story pit building off Koval Lane and Harmon Avenue before the inaugural 2023 race.

This year, Grand Prix Plaza has opened to the public for the first time outside of race weekend, offering fans various events including karting, virtual racing and a history of Formula One.

Contact Mick Akers at makers@reviewjournal.com or 702-387-2920. Follow @mickakers on X.