Another Sports Organizer Wants Public Dollars In Las Vegas: Formula One Asks Clark County For $40 Million Toward $80 Million Las Vegas Grand Grand Prix Infrastructure Work
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By Alan Snel, LVSportsBiz.com Publisher-Writer
Now it’s Formula One’s turn to belly up to the public trough and try to feed on public dollars for its much-hyped road race in November.
F1 wants Clark County to pay $40 million toward the road work, resurfacing and infrastructure of its Las Vegas Grand Prix 3.8-mile race course, which includes a healthy chunk of the Strip.
LVSportsBiz.com has reported for months about the fact there has been no public discussion about what the public will be paying for the F1 race road work.
F1 wants $40 million from Clark County for an infrastructure project that it says will be $80 million.
F1’s request, finally discussed publicly at a commission meeting Tuesday, came eight days after Clark County Commission Chairman Jim Gibson attended an Athletics stadium subsidy bill hearing to say Clark County was all in on spending $120 million for bonds toward the public’s $380 million contribution to a proposed A’s ballpark on the Strip.
The resolution for this “public-private” partnership repeats the $1 billion economic impact number without showing how the number was reached. It should be noted that many local residents have complained the ticket prices are ridiculously high.
The county commissioners voted, 4-3, to start negotiations with F1, with Commissioners Justin Jones, Marilyn Kirkpatrick and Michael Naft dissenting.
Kirkpatrick lit into F1.
Referring to the $40 million request by F1, Kirkpatrick said, “That’s somebody’s parks. That’s somebody’s recreation center.”
And the public payment to F1 idea did not go over well with the public.
Naturally, the proponents for giving government assistance to major league teams and big events say the sports entities generate lots of money for the local community. Though, many economists argue the benefits are overstated.
County Commissioner Tick Segerblom buys into the event’s spending.
“F1 is going to be a huge positive for Clark County,” Segerblom told LVSportsBiz.com. “I have no problem contributing to their event. However, I feel the convention authority (LVCVA) and the major strip hotels should also be at the table.”
The publicly-funded LVCVA tourism agency has already approved nearly $20 million for a three-year deal with Formula One.
