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The inaugural Formula 1 Las Vegas Grand Prix was billed as the American counterpart to the famed Monaco Grand Prix.
But the result was anything but, with exorbitant prices and logistics mishaps leading to a product that fell well short of expectations.
Thankfully, it appears race organizers have learned from their mistakes and are ready to bring significant changes to the 2024 Grand Prix.
Chief among those changes is cheaper ticket prices, according to Adam Stern of Sports Business Journal.
“The F1 Heineken Silver Las Vegas Grand Prix will put cheaper tickets on sale for the second edition, one of several notable changes coming as Liberty Media dials in its promotion of the event,” Stern writes.
Las Vegas Grand Prix CEO Talks Major Changes To Ticket Pricing
This comes after race CEO Renee Wilm revealed that resort partners asked for more pricing options this year.
The cheapest tickets in 2023 were the $500 general admission passes. But Wilm told CNBC that fewer than 1,000 of those tickets were actually made available. Other three-day ticket price points last year included reserved grandstand seats at the Sphere for $2,000, East Harmon grandstand seats for $2,500 and North Koval hospitality passes for $8,000.
Caesars even offered an insane $5 million package that included tickets as well a five-night stay in the Nobu Sky Villa, a round-the-clock butler and several other extravagant features.
This time around, Wilm says they plan on taking a different approach.
“We’re going to be making a significantly higher number of GA tickets available with a brand-new GA zone to accommodate the greater number of fans who want to participate at different price points,” she said. “We heard that feedback (on ticket prices) and learned a lot going into Year No. 1 and are looking forward to creating opportunities for more fans to participate in the race weekend.”
Whether that’s enough to turn year two of the much-hyped race into a success is yet to be seen. But it appears to be a step in the right direction.