LAS VEGAS — According to RACER, Liberty Media, the owners of Formula 1, is planning to purchase undeveloped land east of the Las Vegas Strip in preparation for the next year’s Las Vegas Grand Prix.
The 39 acres of land, which will cost $240 million, will be developed for the pit and paddock area, along with hospitality and race support venues.
Liberty CEO Greg Maffei confirmed the investment to RACER. See the original story here.