Formula One hit the jackpot in Las Vegas last night by sealing what is likely to represent the first £1billion deal in the sport’s history. If the arrangement lasts for a decade, as is minimally hoped, the billion-pound mark should be exceeded, making Las Vegas the most lucrative grand prix ever. Domenicali, for his part, laid on VIP treatment, while insisting that any Las Vegas GP absolutely must be on The Strip. He did not want a repeat of the early-Eighties Las Vegas flop, held in the parking lot of Caesars Palace. ‘Las Vegas is known around the world for its excitement, hospitality, thrills, and the famous Strip,’ said Domenicali.

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