“ acquired Formula One about seven years ago. At the beginning of October 2023, they are expected to earn an occupancy permit. In November 2022, F1 and Liberty Media hosted a groundbreaking ceremony. Miller says that before they even had a design, the purchasing of construction materials began to avoid supply chain delays. In June 2022, John Malone’s Liberty Media, which owns Formula One Group, bought 39 acres of land on the northeast corner of Koval Lane and Harmon Avenue for the Paddock Building. The Best Vegas Residencies to Catch Through 2024: U2 and Adele's Extended Stays, Usher's Sin City Finale and More