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US Grand Prix in jeopardy?
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The US Grand Prix in Austin is facing uncertainty following an announcement by the State of Texas that will be cutting payments to the Circuit of the Americas this year by more than 20 percent. COTA has received significant funding from the State since 2012 - approximately $25 million - which is tied to the race's economic impact to the Texas region. This year's subsidy is expected to be reduced to $19 million. Given that COTA's sustained business model was based on government payouts, which were contractually agreed by Texas, any reduction in spending may put the venue's future in jeopardy according to its chairman Bobby Epstein. "To use a technical term, I...
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