Formula 1 races to put finishing touches on Las Vegas GP

Formula One gears up for a weekend on the Las Vegas Strip.

LAS VEGAS – The time is nearly here for the long-awaited Las Vegas Grand Prix as Formula One is putting its final touches on all its construction. 

The Las Vegas Grand Prix is one of the most expensive F1 races to date. It cost more than half a billion dollars to bring the race to life. 

"There will be 105,000 people, so the sheer scale of it, even for Las Vegas, will be the largest event Las Vegas will have," said Greg Maffei, the CEO of F1’s parent company Liberty Media.

The view of the traffic alongside the racetrack from the Elara by Hilton Grand Vacations in Las Vegas. (Fox News)

That is just at the race itself. 

Hundreds of thousands are expected to visit Las Vegas next week to be a part of the race experience, even if they do not have tickets to the race.

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"There will be elements at the Sphere. The launch party, really from Wednesday to Sunday, almost a week of events and musical acts, and you’re seeing sports figures from other sports having their own kind of side party, viewing parties. I think we’ve attracted an unbelievable wide range of activities for all sorts of fans of all sorts of reasons who want to be in Las Vegas for this," Maffei said. 

Grandstands at the Las Vegas F1. (Fox News)

The CEO of Liberty Media said great experiences come at great costs. 

"A lot of it comes from costs that are not entirely ours. Not begrudging our partners, but you know, five-night minimums in a hotel and things like that help push up the costs. Not everything is just the pricing of the tickets. The experience of that and, frankly, the fact that there’s so much demand is what drives it,"