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U.S. Grand Prix future in Texas

AUSTIN, Texas (AP) — Formula One expects to race the U.S. Grand Prix at the Circuit of the Americas for “many years to come,” a series official said Tuesday, despite the track’s failed effort to secure $25 million in public money it was denied in 2018. Sean Bratches, F1’s managing director of commercial operations, suggested the series remains confident in the financial security of the Texas race. “We have a great relationship with (the track) and it is a highly regarded and valued part of our season,” Bratches said. “We look forward to the Grand Prix in Austin this October and for many years to come. (It) is a circuit that is loved by teams, drivers and fans.” The Circuit of the Americas relies heavily on annual payments from the state’s Major Events Reimbursement Program to cover race expenses — including an estimated $30 million licensing fee paid to F1 — and has collected more than $150 million in public money since 2012. The fund is typically used to help Texas host…Read the rest of this story and more stories like this in your latest edition of The Ennis News. Be informed, subscribe today!




Posted by on May 31 2019. Filed under State news. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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