A potential Las Vegas Grand Prix has received a huge boost this week, with a report that Chinese investors have thrown support behind the plan for a race on The Strip.
The race, which has been put together by American entrepreneur Farid Shidfar, has the backing of Bernie Ecclestone, who recently reported organisers have a valid contract for a race but required funding.
That hurdle looks to have been overcome according to a BBC report, with a Beijing-based investor committing $142 million (£100m) in funding to get the event off the ground.
"They are very close to Las Vegas and have got businesses in media, sport, technology and entertainment, so they are a massive conglomerate,” Shidfar said of the investor.
"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.
“The benefits they will derive are very strategic so that's why they are very excited about it.”
Things are beginning to fall in place for the race to happen in 2018, though Shidfar believes next season isn’t entirely impossible, but less likely as the Nevada state would have to agree to the race and green-light permits for road closures – however all resorts on the Strip are believed to be in favour.
A track layout, which includes the famous Strip, has already been drawn up by circuit architect Tilke GmbH.
"We have successfully designed a racetrack which is partly on the Las Vegas Strip and does not impact any resort," added Peter Wahl, managing partner at Tilke.
"The track definitely has its own character and shall provide drivers high-speed challenges with different sharp corners. Best part, the track is designed to host large numbers of spectators, and I can't wait to see the first car fire up. I believe the Vegas race will become one of the highlights of the F1 calendar."
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