NASCAR Dealt With Major Blow Ahead of the First F1 Outing in Las Vegas Next Year

It comes as no surprise that Formula one is the biggest motorsport event in the world right now. Formula one is known as the sport with the single-seater cars with a staggering 1000 horses of power, steered by 20 of the best and fastest drivers in the world.

Miami held its first Grand Prix event around the Hard Rock Cafe. The first race, completely studded with glamour, left all the viewers star-struck with some of the most jaw-dropping celebrities. However, that’s not the end of it. In fact, the United States will host another Formula 1 racing event in 2023. And, this one will be a new street track in Las Vegas, or as we all know it, the city of sins.

Of course, NASCAR remains the primary sport in America with a significantly higher viewership and fans. However, a new development reveals something really shocking.

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Sources Reveal The Budget Foothold Formula 1 Has Over NASCAR

Formula one increases its reach in the Americas. And, new sources reveal an eye-opening advantage that Formula One has.

Front Office Sport confirmed the funding from Las Vegas’ Tourism for the Las Vegas GP in a tweet that said, “Las Vegas’ tourism board has committed $19.5 million over the next three years to host Formula 1 races. As part of the partnership, Vegas will ensure Liberty Media obtains land and approval, relationship building with resorts, event support and more.”

This is a very major difference in the budget if you consider that Formula One will get $6.5 Million per year. On the other hand, NASCAR gets right about $1.6-$1.75 million, as confirmed by Bob Pockrass on Twitter.

The sudden jump in popularity of Formula One comes as no surprise. Especially, after Netflix’s documentary, Drive to Survive. In fact, the docu-series has depicted some jaw-dropping numbers in growth and popularity alone.

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In the end, it is apparent that Formula One has secured a place in current pop culture with a significant number of newer viewers being between the age of 16-35. However, is it fair to NASCAR compared to Formula One? Should they match the budget?