Formula 1 "is gearing up for a new addition to its calendar that would be perhaps the glitziest race" in its 66-year history -- a Grand Prix on the streets of Las Vegas, according to Sylt & Fairman of the BBC. Plans for a Grand Prix in Las Vegas "have hit top gear," as organizers have revealed that a Chinese conglomerate has agreed to commit the £100M ($142.4M) needed for the race to "get the green light." They add that Las Vegas "could appear on the calendar as soon as next year." The showpiece event "would rival even F1's flagship, the Monaco Grand Prix, as it would see cars hurtling down the world-famous Strip," past landmark casinos like the Bellagio and Caesar's Palace. A race on the streets of Las Vegas is a "long-time dream" of F1 CEO Bernie Ecclestone, "but it has failed to get the green light so far" as local organizers struggled to secure funding. Organizing group P2M Motorsports Founder Farid Shidfar said that he has an "agreement in principle" with a Beijing-based conglomerate. He said, "They are very close to Las Vegas and have got businesses in media, sport, technology and entertainment, so they are a massive conglomerate. They came to us out of the blue late last year, because of the initiatives they are involved with in the state of Nevada, and we have been in due diligence since then" (BBC, 6/11).
