Formula 1 Grand Prix of the United States: Liberty Media’s flagship race experience under scrutiny

Responsible: ad hoc news Flagship & Bestseller Desk. Reviewed prior to publication on June 12, 2026 at 2:55 PM ET. Details in the imprint.

The Formula 1 Grand Prix of the United States at Circuit of The Americas in Austin has become Liberty Media's flagship live event in North America, attracting capacity crowds, luxury brands and VIP guests each fall. Under Liberty Media's stewardship, Formula 1 has expanded the U.S. calendar to races in Miami and Las Vegas, but the Austin weekend remains a core pillar of its stateside schedule and a showcase for the company’s race-day product.

That flagship experience is now facing fresh scrutiny after a Texas businessman filed legal action against Liberty Media and Circuit of The Americas, alleging they failed to protect guests from a criminal gang targeting high-end watches during the 2025 race weekend. According to the complaint, the plaintiff says a Richard Mille RM 65-01 Split-Seconds Chronograph "LeBron James" watch valued at about $750,000 on the secondary market was forcibly taken from his wrist in a crowded area at the track. The lawsuit seeks damages of more than $200,000 but not more than $1,000,000, arguing that Liberty Media and the track operator knew or should have known about the risk of organized theft at the event but did not adequately warn attendees.

Inside Liberty Media's flagship F1 weekend in Austin

Since acquiring Formula 1 in 2017, Liberty Media has leaned heavily on the U.S. Grand Prix at Circuit of The Americas as a proof point for its push to deepen the sport's presence in the American market. The Austin race blends world championship points on track with an entertainment-heavy program off it, routinely featuring headline concerts, sponsor activations and hospitality offerings that position the event as a premium weekend experience for both motorsport enthusiasts and corporate guests.

The event has helped support strong U.S. attendance growth for Formula 1, with recent seasons setting or approaching record cumulative race-day crowds at multiple venues, including Austin. While precise paid attendance figures for each year are published by race promoters rather than Liberty Media centrally, COTA has regularly reported hundreds of thousands of spectators over the multi-day race weekend, reinforcing its status as a cornerstone of the series' U.S. calendar. High-end sponsors and hospitality clients often use the race as a platform for customer entertainment and brand exposure, making the security and comfort of VIP areas particularly important to the perceived quality of Liberty Media's flagship product.

According to the filed complaint, the plaintiff alleges that a criminal gang had been operating at the event, targeting owners of luxury watches at the crowded venue. The lawsuit claims Liberty Media, Formula 1 and COTA either knew or should have known about such activity but did not implement adequate warnings or security controls to mitigate the risk. The statement of claim asserts that the victim's Richard Mille watch was taken after he was allegedly restrained by thieves within the circuit grounds, transforming what for most guests is a celebratory weekend of racing into a security incident with six-figure financial consequences.

Liberty Media and the race organizers had not publicly commented on the specific allegations at the time of writing, and no court findings have been made. As with any civil action at this stage, the claims represent one side’s allegations and will be tested in the legal process. However, the filing draws attention to a critical dimension of Liberty Media's live event product: the extent to which the company and its partners can demonstrate robust risk management for high-net-worth guests and general attendees amid rapidly growing crowds.

From a product perspective, the Formula 1 Grand Prix of the United States offers multiple ticket tiers, from general admission and grandstands to premium hospitality suites and paddock-facing experiences. While Liberty Media owns the global commercial rights, local promoters manage on-the-ground operations, including many elements of security and crowd management, often in coordination with local law enforcement and private contractors. In practice, this means that any high-profile security breach at a marquee race can raise questions for both Liberty Media as rights holder and the venue operator about how responsibilities and protocols are shared and communicated.

Event security at large-scale sports gatherings typically spans perimeter screening, in-venue patrols and surveillance, and sometimes targeted measures for VIP areas and known risk categories, such as luxury goods. The lawsuit against Liberty Media and COTA specifically focuses on alleged failures to warn guests about criminal activity, rather than making detailed claims about the number of security personnel or specific technologies deployed. If the case proceeds, discovery could shed more light on what information about potential threats was available to organizers before and during the race weekend, and how that information informed the security posture around premium guests who might be carrying high-value items.

For U.S. consumers considering a trip to the Austin race, the case underscores why due diligence on personal security can matter even at polished, premium events. That can range from basic precautions, such as minimizing display of expensive items in crowd bottlenecks, to checking available information on venue policies and security arrangements in advance. Many major sports and entertainment venues now publish high-level security guidance on their websites, although the level of detail varies.

In the broader Liberty Media portfolio, Formula 1 is a centerpiece asset alongside other holdings in live entertainment and media. The company has invested in new U.S. races, digital content and fan engagement initiatives to extend the value of the F1 product beyond the track, from streaming offerings to behind-the-scenes series produced with partners like Netflix. Against that backdrop, the on-site experience in Austin is more than a standalone race weekend; it is an anchor moment for fan acquisition, sponsor relationships and media storytelling targeted at the U.S. market.

Single incidents, even when high-profile and involving substantial sums, do not by themselves define the safety profile of a recurring event. However, civil actions tied to specific races can influence how promoters and rights holders calibrate future security investments and communication strategies. For example, organizers might revisit how they brief spectators about personal property risks, or how they coordinate with local authorities on intelligence about potential organized theft targeting known luxury segments such as watch collectors.

For Liberty Media, the lawsuit is a reminder that its flagship Formula 1 weekends combine complex operational risk with a visibly affluent audience. Fans booking premium hospitality packages, and sponsors inviting top clients, will watch closely to see how the company and local partners address security concerns while maintaining the entertainment value that has made Austin a fixture on the calendar. Event planners and corporate buyers comparing hospitality options may weigh not just on-track action and amenities but also perceived security standards and responsiveness to incidents involving high-value personal items.

As the legal process around the alleged watch theft moves forward, Liberty Media faces the dual task of managing litigation risk and continuing to market the Austin race as a premier live experience within its Formula 1 offering. For now, the court filing underlines that for high-profile sports events tied to globally recognized luxury brands, security is part of the product as much as grandstands, paddock access and post-race concerts. Shares of Liberty Media (US5312298541, ticker LSXMA) traded at $27.09 on Nasdaq on June 11, 2026.

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