will be hitting the streets of the Las Vegas strip in of 2023, and while we don’t know much about it, we are starting to learn one big thing: Ticket prices are going to be outrageous. Some packages could run as high as $100,000, Adam Stern of Sports Business Journal reports via .

That’s because MGM Resorts is allegedly planning on buying as much as $25 million worth of tickets for the event, bundling the race tickets into event-and-lodging packages that could cost six figures.

This is just a preliminary report, and there aren’t many details yet, but it’s not terribly surprising. At , grandstand tickets alone ran into thousands of dollars, and most attendees have to budget for travel and lodging. At Miami, I learned that full-weekend VIP ticket packages offered by certain South Beach hotels .

We’re likely to see these VIP-level packages becoming more popular at F1 races in the near future, especially in Vegas, a city known for high rollers. But it definitely doesn’t bode well for the average race fan, and it definitely doesn’t help to welcome new Formula 1 enthusiasts who might have been excited to attend a new U.S. race.