LAS VEGAS (KLAS) — The Las Vegas Convention and Visitors Authority (LVCVA) Board of Directors will be considering approving the purchase of up to $7 million of race and hospitality tickets for the November 2023 Formula 1 Las Vegas Grand Prix. This will be during the monthly March 14 board meeting.

Tickets for the race begin at $500 for standing-room-only general admission. Other price points for tickets are $1,500, $2,000, $8,000 and $10,000.

According to the LVCVA, the $7 million purchase will include $2.8 million worth of tickets that will “be resold to destination properties and other partners and community members for their use.”

The LVCVA said its request also includes $3.45 million “of race and hospitality tickets for our current and future customers.” In justifying this expense, the LVCVA said, this race “presents a one-time opportunity to bring the LVCVA’s and the destination’s largest current and potential customers to the city”

Las Vegas F1 Grand Prix rendering. (F1 Las Vegas)

Another $750,000 will be used to buy tickets that will go to “key destination partners,” the LVCVA said. “Stakeholders’ event experiences and observation are both necessary and beneficial for the destination, and to the event. Interaction with these stakeholders is also meaningful to our customers’ experiences.”

Las Vegas F1 Grand Prix rendering. (F1 Las Vegas)

8 News Now did ask the LVCVA if any of the tickets will be used by its staff or the Board of Directors and were told it cannot “comment beyond the agenda item until it is formally presented to the Board for consideration and a vote.”