F1 chief executive Stefano Domenicali says the addition of a third F1 race in America next year in Las Vegas won't dilute the value of the U.S. market.
Las Vegas will add its own brand of glitz and sparkle when the flagship event in Nevada arrives on F1's calendar in 2023.
The long-awaited venue will further boost Grand Prix racing's profile in the United States where it will sit alongside Austin's long-standing race in Miami's new event that will premiere in early May.
F1 has long sought to add a second and third race in America, and Domenicali believes there is no risk of one event cannibalizing the others as each race caters to slightly different demographics.
"No dilution, it’s an added value for everyone, because we are hitting the different targets in terms of demographics and location," said the Italian.
"The beauty of the growth of our sport in this country is we are reaching a lot of young people that are starting to be thrilled by our sport.
© F1 Miami Grand Prix
"We have seen before our eyes the drivers, [they are] very young. They have the possibility of sharing through the social channels also who they are, promoting our sport.
"Through them, I think there will be a great connection to develop the sport in the right dimension with the right ideas."
Liberty Media CEO Greg Maffei echoed Domenicali's comments, but added that all three races in the U.S. will attract not only a domestic following but also an international audience.
"One of the things that is special about Formula 1 is the global nature," Maffei said.
"The audience that shows up in Miami will be a global audience, the audience that shows up in Austin already is a global audience.
"I’m absolutely positive the audience that shows up in Las Vegas is going to be a global audience, it’s not just going to be a US audience."
In the past few years, Formula 1 has gained a solid footing in America, helped in large part by the well-chronicled success of Netflix's Drive to Survive series.
But the sport's popularity in the U.S. continues to trend higher, with Austin enjoying a 400,000-record attendance number in 2021.
Domenicali says F1's success in America has come a long way in a remarkably short period of time.
"If you think where we were three years ago, it was difficult to have one grand prix full of people," he said.
"Now we are heading to a situation where this year we are going to have two events totally sold out.
"It’s giving you the magnitude of what the US will represent for Formula 1. We feel the vibes, we feel it is really something that needs to belong to this country. This is a huge opportunity.
"To think that next year we’re going to have three races in the US, if you think again back a couple of years ago, you would say you are crazy.
"We are focused on making sure this would be one of the most important markets for F1, not forgetting of course that we were born in Europe, and we are a worldwide sport.
"This is our dimension, and we will stay as it is in that respect."
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