Formula 1 is reportedly closer to bringing a race to Las Vegas and a deal could be announced anytime in the next six months.

According to a report in Sports Business Journal, the two sides are in advanced discussions, and Formula 1 aims to have a race in Sin City by next year.

Between 1981 and 1984, F1 held the Caesars Palace Grand Prix in Las Vegas, which took place in the hotel’s parking lot. A new track would reportedly incorporate the strip, specifically around the Bellagio casino’s fountains.

Adding to the Austin Grand Prix, F1 has already extended its U.S. footprint this year with a 10-year-deal for the Miami Grand Prix. The race will “generate millions of dollars,” according to Miami Gardens mayor Rodney Harris.

F1 also announced a seven-year extension for the Singapore Grand Prix on Jan. 27 and a 10-year deal with Qatar last year.

Race For More Sports

The report comes as Las Vegas continues to expand its reach in pro and college sports.

• In the last five years, Vegas has added the NHL’s Golden Knights, the NFL’s Raiders, the WNBA’s Aces, and an NLL team to its roster.
• The city is slated to host the 2022 NFL Pro Bowl, the 2022 NHL All-Star Game, the 2022 NFL Draft, Super Bowl LVIII in 2024, and the 2026 College Football Playoff National Championship.

Las Vegas is also in exclusive negotiations to host Major League Soccer’s 30th team and is favored for both an NBA expansion team and possibly the Oakland A’s relocation.

Professional basketball league Overtime Elite has entered a deal with Meta to create virtual reality content for fans.

The Atlanta-based league, which pays its thirty 16-to-19-year-old athletes at least $100,000 annually, is an alternative path to the NBA that offers full health care benefits and a tailored academic curriculum.

Overtime Elite launched last year the larger Overtime business was valued at roughly $250 million in April following a funding round with investors including Devin Booker, Klay Thompson, Jeff Bezos, and Drake.

Meta will create immersive experiences through the Quest 2 headset, which becomes the official headset of Overtime as part of the deal.

• The first experience will be “Dunk Shows,” where fans can see live dunk attempts.
• After the live virtual show, fans can watch them on-demand through Oculus TV and Horizon Venues — a metaverse event platform created by Meta.
• In the future, fans will be offered a range of experiences including behind-the-scenes training and players’ academic routines.

The Meta Rebrand

Social media giant Facebook rebranded as Meta in October with plans to shift its focus to the metaverse. It appears the company will gradually kill off the Oculus name as part of that move. Meta purchased Oculus for $2 billion in 2014.

Meta has also announced it will acquire VR fitness company Within.

As sports betting, ticketless entry, and cash-free concessions become commonplace in sports venues, Extreme Networks is positioning itself as an essential behind-the-scenes player for many teams and leagues.

The wireless company saw revenues grow 16% to $280.9 million in its fiscal second quarter of 2022.

Extreme also announced partnerships with the NHL (through 2026) and Manchester United as a Wi-Fi network and analytics provider, adding to a list of high-profile partners.

Extreme also has technology deals with:

• The NFL, including as an analytics provider for Super Bowl LVI
• Major League Baseball
• NASCAR

The data provided by Extreme could help Man U and some NHL teams better understand live fan-traffic flow and behavior.

“The club can continuously review and optimize venue management by identifying stadium bottlenecks, overcrowded concessions, and other consumer traffic patterns while gaining insights into fan activity to better customize experiences and pinpoint sponsorship opportunities,” Extreme wrote.

High-Capacity Connectivity

Extreme will install Wi-Fi 6 technology in Man United’s Old Trafford stadium and certain NHL arenas. The technology, which began rolling out publicly in 2019, allows users to maintain fast browsing and download speeds as more and more people access the network.

In the past couple of years, the movement for college athletes’ employment rights has rapidly gained steam. Now, even more support has surfaced — this time at the state level.

On Jan. 20, Iowa state Rep. Bruce Hunter (D-Des Moines) introduced a bill stating athletes at public schools in the state should be considered employees. If passed, it would set a new precedent for athlete classification.

• The bill would apply to major Power 5 athletic departments at Iowa and Iowa State.
• Players could receive wages and other labor benefits.
• Salaries would be determined by the Board of Regents, attorney Maddie Salamone told Front Office Sports.

The bill could be a financial game-changer for athletes. Black Power 5 football and basketball players could have each made about $250,000 in salaries annually between 2005-19 if they were employees — a total of $17.3 billion, a previous study found.

Hunter, the ranking member of the Iowa House Labor Committee, did not immediately respond to an emailed request for comment.

Increasing Momentum

The bill is just the latest in a growing number of legal and political avenues to get athletes employment status.

Litigation is pending in the case Johnson v. NCAA, which argues that college athletes are employees under the Fair Labor Standards Act.

The National Labor Relations Board is also considering an accusation that the NCAA misclassified athletes as amateurs after its general counsel voiced support.

Several federal lawmakers are on board, too.