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'We're screwed' says COTA chairman as funding is cut
The United States Grand Prix, held at the Circuit of the Americas in Austin, could be under threat after the State of Texas announced it will be cutting its funding for the event. The race was built upon a deal with the local government that provided around $25 million in annual funding through an events subsidy, with the amount based on its economic impact on the region. However it's now believed the state will reduce that amount by around 20 per cent to $19m, hitting the circuit with a roughly $6m funding shortfall with which it must now cover itself. "To use a technical term, I think we're screwed," COTA chairman Bobby Epstein said. "It's hit us cold. No one...
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10y ago from GrandPrixTimes.com
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