Feb.21 (GMM) A dark cloud has moved over the financial health of the US grand prix in Austin.
The Associated Press reports that race organisers have missed a paperwork deadline and as a result will lose $20 million of government backing.
The missing paperwork is reportedly a mandatory anti human trafficking plan.
A spokesman for Texas governor Greg Abbott said the state had no option but to not give the Circuit of the Americas (COTA) the funding.
Race promoter Bobby Epstein, and F1 owner Liberty Media, did not comment.
“The State of Texas and COTA have a productive partnership that has had a tremendous economic impact on the city of Austin and the state as a whole, and our office is already working with COTA on this year’s race,” the governor’s spokesman said.
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F1's new owners, the US media group Liberty Media, are keen to expand the calendar to up to 25 races, […]
27/01/2016 Ecclestone hopes Austin stays on calendar Jan.27 (GMM) Bernie Ecclestone has not yet given up on the future of the US grand prix in Austin. Late last year, a dark cloud moved over the popular race when the governor of Texas […]
10/03/2016 Austin ends 2016 US GP uncertainty Mar.10 (GMM) US grand prix organisers brushed aside any doubts about the 2016 race by revealing Taylor Swift, one of the world's top pop acts, will perform at the October event. It ends […]
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22/10/2016 More US races could mean ‘pain’ for Austin GP Oct.22 (GMM) US grand prix promoter Bobby Epstein has warned that more races in America could actually hurt F1 initially.
With US media tycoon John Malone's Liberty Media taking over the […]
15/03/2017 Liberty chief slams Azerbaijan race Mar.15 (GMM) A dark cloud has moved above the future of Azerbaijan's grand prix.
Under ousted F1 supremo Bernie Ecclestone's leadership, a street circuit in the historic capital Baku […]
01/03/2016 US GP hopes buoyed as Austin lowers tax bill Mar.1 (GMM) Hopes are increasing that the embattled US grand prix will in fact take place in October. Currently, the popular Austin race is marked as "subject to confirmation" on the […]
16/03/2017 Azerbaijan hits back at Liberty over GP jibe Mar.16 (GMM) The promoter of Azerbaijan's grand prix has hit back hard at the chief executive of F1's new owner Liberty Media.
Forbes this week quoted Liberty CEO Greg Maffei as strongly […]
26/01/2017 F1 promoters may ask for discount – Brawn Jan.26 (GMM) Ross Brawn has admitted that Bernie Ecclestone's departure as F1 chief might lead to promoters asking for lower annual race fees.
The former F1 supremo was a notoriously […]
29/01/2019 Race promoters threaten to quit F1 calendar A group of F1 race promoters are preparing to confront the sport's owner Liberty Media.
Led by Silverstone, the race officials are angry with Liberty over the handling of their contracts, […]