News Details
US GP under threat
The future of the US GP in Austin is in doubt as state officials reduce subsidy. Between 2012, the first year of the event at the Circuit of the Americas, and 2014, the state contributed $25m each year as part of a quarter-billion dollar subsidy agreed over the next decade with (then) state comptroller Susan Combs. However, for 2015 the governor's office and COTA confirmed that the state's contribution, which is based on how much economic activity the event generates for the state, would drop to around $19.5m. 'An entire facility was constructed based on that deal,' COTA spokesman Dave Shaw told the Austin American-Statesman. 'If the calculation is changed now, that's effectively changed...
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9y ago from Pitpass.com
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