F1 owner expresses 'disappointment' regarding the financial aspects of the Las Vegas GP.

      Liberty Media, the owner of Formula 1, has expressed its "disappointment" regarding the financial outcomes from the Las Vegas Grand Prix, which is considered a key event for the brand. While the overall popularity of the sport is on the rise, with Sky Deutschland reporting significant increases in new mainstream demographics, there are concerns about specific financial results.

      Sports editor-in-chief Alexander Rosner informed the SID news agency that the audience in the 14 to 29 age range has more than doubled, and there is now a threefold increase in female viewers. However, Liberty Media's stock price dropped by over 5 percent in the latest reporting period, which chief financial officer Brian Wendling attributes mainly to the Las Vegas GP. "We can't discuss the specifics," he noted, "but the bulk of the shortfall that you are calculating based on team payments is related to Vegas."

      Derek Chang, the new CEO of Liberty Media, concurs, stating, "We were all disappointed by some financial metrics in the early stages." The Las Vegas GP debuted in 2023, featuring a distinctive promotion by Liberty Media itself, with the paddock and pit lane located on land owned by the company holding the sport's commercial rights. Chang remarked that the race has not yet met internal revenue expectations but indicated that changes have been implemented to ensure a financially successful event in 2025 and beyond.

      "We now possess two years of actual data to analyze which tickets and products performed well, the fan demographics, and the overall cost structure of the event," he noted. "We have a clear understanding of our immediate priorities for improving Vegas, and we are confident about its value." Wendling pointed out that the primary challenge for last year's event was sluggish ticket sales due to Liberty Media setting previously unseen high prices in F1. He also acknowledged some "softness" in certain hospitality offerings.

      F1 CEO Stefano Domenicali affirmed the sport's commitment to the Vegas project, stating, "As I've always said, this is an incredible grand prix that we need to continue to develop and ensure it remains at the forefront." He emphasized the importance of concentrating on managing the cost structure of the situation in Vegas and improving local relationships as key to achieving success.