The $500M Las Vegas Grand Prix opened with a drain cover wrecking the track

Liberty Media built the Las Vegas Grand Prix as its own showpiece event — buying land, building a paddock and running a temporary street circuit through the Strip at a reported cost of around $500 million, including the $240 million purchase of the circuit site. It was the biggest promotional bet in Formula 1's modern history.

The debut weekend collapsed within minutes. In first practice on the night of 16 November 2023, a loose drainage cover struck Carlos Sainz's Ferrari and destroyed the car. Practice was red-flagged and then cancelled for the night, and thousands of fans who had paid for the session were escorted out of the grandstands — most learned from social media that the night was over.

The race itself was held two nights later, but the damage was done: fans sued over the eviction, and in July 2025 Clark County approved a $3 million settlement with racegoers.