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Inside Formula 1’s $500 Million Vegas Splurge

Through six-figure events, influencer trips and merch releases, brands are betting big on F1′s much-hyped return to Sin City.
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Formula 1 has spent over $500 million in transforming the Las Vegas Strip into a racetrack in preparation for the long-awaited Grand Prix this weekend. (Getty Images)
By
BoF PROFESSIONAL

From a sporting perspective, Formula 1’s marquee race in Las Vegas this weekend will have little effect on the outcome of the overall competition. Red Bull Racing’s star Dutch driver Max Verstappen was already crowned as the winner of the 2023 championship back in early October, with six races of the season still to go.

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Further Reading

Case Study | Fashion’s New Rules For Sports Marketing

Capitalising on sport’s soaring commercial and cultural relevance is becoming a primary focus for fashion brands. Winning sports-marketing strategies today hinge on building long-term, collaborative partnerships with athletes and organisations that resonate with a brand’s target consumers, as experts in BoF’s latest case study explain.

How Fashion Entered the Formula One Race

A new owner, media-friendly strategy and an upcoming Brad Pitt film have helped catapult Formula One into the cultural spotlight. For brands, there are untapped opportunities in the sport – “like a Super Bowl every weekend”.

About the author
Daniel-Yaw Miller

Daniel-Yaw Miller is a contributing writer at The Business of Fashion. Miller is a New York based journalist, editor and advisor who specialises in sports, fashion and business.

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