Formula 1 and Liberty Media have hyped up the Las Vegas GP to mythical proportions. It is being marketed as one of the greatest shows on earth. However, the ticket sales seem to tell a different story. In the past month, the ticket prices of the seats and the hotels nearby have taken a big hit. In an era where Formula 1 ticket prices are skyrocketing everywhere, this is a worrying sign for both Formula 1 and Liberty Media. This also puts the future of the event in jeopardy. And some say Max Verstappen might be to blame for it.
The Max Verstappen Effect
Apart from the Las Vegas GP, Formula 1 is at the crest of one of its biggest popularity booms. More and more tracks want to host a Grand Prix. The ticket prices are going up everywhere, even on legacy tracks. And almost every event is a sellout.
However, the 2023 season has dealt a blow. Red Bull and Max Verstappen have come out swinging. They have absolutely destroyed the field and wrapped up both the championships already. With tickets for the Las Vegas GP reaching astronomical heights, people simply don’t want to pay to watch Max Verstappen coast to another victory.
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Astronomical Prices
Some ticket prices and hotel packages for the Las Vegas GP made headlines due to their eye-watering figures. While Formula 1 has enjoyed an economic boom, it may have hit the ceiling with these prices.
This is why CNN reported a huge dip in the prices for the Las Vegas GP. On average, ticket prices have dropped almost 35% in a month. The grandstand prices for the Saturday race have dropped from $1,645 to $1,060.
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Prices for the other days of the Las Vegas GP Weekend have dropped too. For Thursday, the prices have dropped from $385 to $180. For Friday, the prices have dropped from $825 to $342.
Different hotels have reportedly reduced the prices of their packages as well. This does not bode well for the future of the race, Formula 1, or Liberty Media.
