Formula One purchases land near Las Vegas Strip
LAS VEGAS, Nev. (FOX5) - A Formula One group has agreed to purchase a chunk of land near the Las Vegas Strip.
Liberty Media Group, a parent group of Formula One, announced the purchase in its first quarter earnings call Friday.
The group said it purchased 39 acres east of the Las Vegas Strip for $240 million. The group said the area will be used for circuit design and the “pit paddock” among other hospitality and race support venues.
A spokesperson Liberty Media said the land was at the northeast corner of Koval and Harmon.
Formula One previously announced the Las Vegas Grand Prix will take place in November 2023.
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