• Loading stock data...
Tuesday, July 1, 2025

Formula 1’s Business Momentum Continues With Las Vegas GP On Deck

  • Motorsports series posts wide range of revenue gains.
  • Expectations high for inaugural Las Vegas Grand Prix despite heavy upfront costs.
Ray Acevedo-USA TODAY Sports

The economic rise of Formula 1 this year was on full display in Liberty Media’s latest quarterly earnings, and even bigger prizes await the motorsports property and its parent organization.

Liberty Media reported a 24% rise in F1 revenue to $887 million compared to the same period a year ago, while operating income rose 67% to $107 million. 

Some scheduling variance is involved in those increases, as this year’s third quarter included an additional race. But, Liberty Media still saw F1 increase revenues across numerous core revenue lines, including media rights, sponsorship, and corporate hospitality.

“Our business is in a position of strength. Fan engagement is high, and commercial interest is strong,” said Stefano Domenicali, F1 president and CEO, told analysts. “The teams have sustainably improved their financial health, generating their own incremental sponsorship, which benefits our entire F1 ecosystem.”

Vegas Riches

F1’s focus is now heavily on the Nov. 18 Las Vegas Grand Prix, which is projected to be perhaps the property’s largest spectacle ever, as well as the most-attended sports event in Las Vegas history. Signs of the forthcoming race were found all over town, including grandstand seating, track lighting, and barrier installation now happening along the Las Vegas Strip.

Liberty Media disclosed it had spent $280 million thus far in 2023 in capital expenditures related to track and pit preparation for the Las Vegas GP, part of a previously projected $400 million in overall set-up costs for the event.

Company president and CEO Greg Maffei said many of those costs are one-time expenditures, and he remains bullish on the race’s long-term profit prospects.

“We did incur significant expense in launching year one in Vegas, and that included extra provisions for safety, security, and traffic planning, which was required by local regulators,” Maffei said. “We remain highly confident of … growing profitability in years two and beyond, and we remain bullish on the broader value creation that far outweighs the increased investment in start-up costs.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

ESPN, MLB Relationship May Not Be Over After All

The parties restart rights talks amid a high-profile divorce in February.

College Sports Revenue-Sharing Underway As More Changes Loom

July 1 marks the first day schools can directly pay players.

What Would a LeBron James L.A. Exit Look Like?

ESPN’s Bobby Marks said “there isn’t” a trade market for James.
Rob Manfred, Commissioner of the MLB, speaks to the media during Cactus League media day at the Arizona Biltmore on Feb. 18, 2025, in Phoenix.

Manfred, MLB Owners Pitch Directly to Players Ahead of CBA Expiration

Owners see a disconnect between union leadership and individual players.

Featured Today

The Battle Over Wimbledon’s Ambitious Expansion Plan

A classic NIMBY standoff on one of the most hallowed grounds in sports.
Seattle Rough & Tumble
June 28, 2025

Women’s Sports Bars Are on the Rise. Survival Isn’t Guaranteed

Some women’s sports bars are cashing in. Others are clawing for funding.
June 27, 2025

Shitposters Have Taken the Reins of Pro Sports’ Official Voices

Meet the social media pros turning sports teams into internet trolls.
Jun 17, 2025; Sunrise, Florida, USA; Florida Panthers center Sam Reinhart (13) hoists the Stanley Cup after winning game six of the 2025 Stanley Cup Final against the Edmonton Oilers at Amerant Bank Arena
June 26, 2025

Stanley Cup’s International Summer Tour: Rules, Repairs, and Raucousness

No pro trophy tour compares to the NHL’s three-month global victory lap.

Bobby Bonilla On Annual $1.2M Payday: ‘It Doesn’t Suck’

The former MLB star receives another $1.19 million from the Mets today.
Jun 10, 2025; Houston, TX, USA; Houston Texans wide receiver Jayden Higgins (81) participates in a drill during an NFL football minicamp at NRG Stadium.
June 30, 2025

30 of 32 NFL Second-Round Draft Picks Remain Unsigned

Some rookie training camps start in under two weeks.
Nov 16, 2024; Washington, District of Columbia, USA; Washington Spirit owner Michele Kang celebrates during a team celebration lap after the playoff semifinal match against NJ/NY Gotham FC at Audi Field.
June 30, 2025

Michele Kang to Lead Lyon As UEFA Delays Multi-Club Ownership Ruling

Lyon’s Europa League fate remains unclear as Michele Kang replaces John Textor.
Sponsored

Hottest Matchups Following NFL Schedule Release

The NFL released the 2025 regular-season schedule, and anticipation is already building in the ticket marketplace with four months to go.
June 30, 2025

NHL Free Agency Begins With Big Money but Modest Star Power

Teams will look to take advantage of an enlarged salary cap.
Jul 9, 2024; Los Angeles, California, USA; The WNBA logo on the court at Crypto.com Arena.
June 30, 2025

WNBA Lays Out Plans to Expand to 18 Teams

Each team paid a $250 million expansion fee.
June 29, 2025

Wimbledon Opens With Record $73M in Prize Money and New Rivalries

Record-setting money and heightened competitive dynamics mark the oldest tennis major.
June 29, 2025

With LeBron Staying, Eyes Turn to Deep Pool of Impact Role Players

The 40-year-old opts into another season with the Lakers.