Texas taxpayers to pay $25 million for Formula 1
AUSTIN, Texas (AP) — Texas taxpayers will be footing the first $25 million of the tab to bring the new Formula One United States Grand Prix to Austin. The Austin American-Statesman reports Wednesday that the money will pay London-based Formula One Group the sanctioning fee it charges to host the first of 10 annual F1 races planned for Austin starting in 2012.
DavidGP ~ I just wonder personally if F1 has lost its alure in the USA, ever since the tire issue back in 2005 at the Indianapolis Speedway? will or could a race in Austin, Texas bring in enough dollars to the track sponsors and the local area to justify $25m initial payout from the taxpayers.
Comments please from US residents on this, would you want your tax dollars going towards a Formula One race?
Source: Texas taxpayers to pay $25 million for Formula 1
DavidGP ~ I just wonder personally if F1 has lost its alure in the USA, ever since the tire issue back in 2005 at the Indianapolis Speedway? will or could a race in Austin, Texas bring in enough dollars to the track sponsors and the local area to justify $25m initial payout from the taxpayers.
Comments please from US residents on this, would you want your tax dollars going towards a Formula One race?
Source: Texas taxpayers to pay $25 million for Formula 1
