F1 to pay lower fees to Clark County to advertise during Las Vegas Grand Prix
Formula One is set to pay Clark County a lower fee for advertising along the 3.8-mile circuit and its public roads during the Las Vegas Grand Prix.
Last year F1 paid the county $1 million for advertisement privileges on public roads.
For at least the next eight years the fee will be $350,000 and require community engagement by race officials each year. The fee will be up for approval at Tuesday’s Clark County Commission meeting.
“The new fee is for the term of the agreements which is the remaining 8 years,” Clark County spokeswoman Stephanie Welling said in an email. “There is a termination for convenience clause that the County can terminate the agreement after year 4. The new fee is a combination of $350,000 and in-kind services to be provided by F1, such as community watch parties and other community engagements.”
During the grand prix, F1 posts various advertisements from its sponsors around the course, on track barriers and overhead signs. The ability came about after legislative action in 2023, which allows for events with an economic impact of at least $250 million to advertise on public right-of-way for no more than 14 consecutive days, upon approval from a local entity.
The proposed amendment agreement also revises the termination clause, allowing either party to terminate the deal after the fourth year of the race, upon written notice by Feb. 1st of a given year.
Ahead of the 2023 race, F1 and Clark County entered into a 10-year partnership that allows for the grand prix to occur during the weekend before Thanksgiving each year on a mix of public and private roads in and around the Strip. Each year race officials must have Clark County approve a special event permit for the grand prix.
Race organizers reported last year’s race generated $1.5 billion economic impact, with Applied Analysis Principal, Jeremy Aguero, saying this year’s race weekend’s impact was yet to be determined, but it would be measured in the hundreds of millions of dollars.
“Whether that’s $400 million, $600 million or $800 million, it’s too early to be able to tell,” Aguero said earlier this month.
Contact Mick Akers at makers@reviewjournal.com or 702-387-2920. Follow @mickakers on X.
