Formula 1 will be hitting the streets of the Las Vegas strip in November of 2023, and while we don’t know much about it, we are starting to learn one big thing: Ticket prices are going to be outrageous. Some packages could run as high as $100,000, Adam Stern of Sports Business Journal reports via Twitter.
That’s because MGM Resorts is allegedly planning on buying as much as $25 million worth of tickets for the event, bundling the race tickets into event-and-lodging packages that could cost six figures.
This is just a preliminary report, and there aren’t many details yet, but it’s not terribly surprising. At the Miami Grand Prix, grandstand tickets alone ran into thousands of dollars, and most attendees have to budget for travel and lodging. At Miami, I learned that full-weekend VIP ticket packages offered by certain South Beach hotels could cost as much as $120,000.
We’re likely to see these VIP-level packages becoming more popular at F1 races in the near future, especially in Vegas, a city known for high rollers. But it definitely doesn’t bode well for the average race fan, and it definitely doesn’t help to welcome new Formula 1 enthusiasts who might have been excited to attend a new U.S. race.