Formula 1 parent company reaches $3M settlement in Las Vegas Grand Prix 2023 tickets lawsuit

Formula 1 parent company Liberty Media has agreed to a approximately $3 million settlement to resolve a class-action lawsuit filed by spectators over issues at the inaugural 2023 Las Vegas Grand Prix. The lawsuit stemmed from the opening-night practice session on November 16, 2023, which was halted after just nine minutes when Carlos Sainz Jr.'s Ferrari was severely damaged after he drove over a water valve cover on the track. Liberty Media and the Las Vegas Grand Prix did not admit any fault as part of the settlement agreement.