courtesy of truth_seeker, wonderful, just frickin just wonderful... courtesy of truth_seeker, wonderful, just frickin just wonderful...
Well, if F1 doesn’t stick around, maybe IndyCar could race there...
“Since its GP debut in 2012, the Austin track has received $25 million per year from the Texas state government based on the economic value of F1 to the region. But following the arrival of a new governor earlier this year, the formula used to calculate the economic impact has changed and an audit of how the fund distributed was carried out.
As a result, the state feels F1 is worth 20 percent less to Texas than previously believed and has therefore cut the funding to $19.5 million. This has hit COTA hard, especially considering falling attendances since 2012, an annual rise in the race-hosting fee and losses at this year’s event because of bad weather.”
http://www.racer.com/f1/item/123568-austin-f1-future-not-looking-good
if the race organizers can’t come up with the other $5.5 mill too bad- shouldn’t come from the taxpayers pocket...at what point do you say is the insane price to hold an F1 race worth it??