The Las Vegas Convention and Visitors Authority approved a multimillion-dollar sponsorship this morning of the Formula One race on the Strip for the next two years.

The Las Vegas Grand Prix Plaza is housed in the state-of-the-art Las Vegas Grand Prix Pit Building. This four-story, 300,000-square-foot facility previously served as the garage, pits, and viewing area for the Las Vegas Grand Prix,

Getty Images Formula 1 will continue to visit Las Vegas, Nevada, for at least two more seasons as part of a massive extension that includes $20 million in sponsorship. According to the Las Vegas Review-Journal,