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Austin reacts to Attorney General

The Circuit of the Americas reacts to suggestions about state funding
Officials at the Circuit of the Americas have responded to the Texas Attorney General's comments that questioned if the venue will be eligible for state funding later this year.

Attorney General Greg Abbott has refused to confirm if the circuit will be able to secure money from a Major Events Trust Fund, which had been set up to support national and international events taking place in Texas.

Questions have been raised over whether or not the venue is eligible because of the way that the fund works, with the current situation appearing to be down to question marks over whether the Circuit of the America's approached Bernie Ecclestone about hosting a race or whether the venue was simply selected by Formula One Management.

It was expected that funds would be released after the race takes place in November and circuit president Steve Sexton said he was confident that the venue had taken the correct steps in regards to the situation.

“We have worked with the local organising committee in following the process to secure and host this international event,” he said. “This event will pump hundreds of millions of dollars into the Texas economy while creating thousands of new full- and part-time jobs and will have a positive impact on our community.

“We look forward to the first Formula One United States Grand Prix in Austin this November and to working with state, county and city officials to create another key economic driver for Central Texas.”




Related Pictures

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Surfacing work on the start-finish straight at Circuit of the Americas   [pic credit: CotA media]
Surfacing work on the start-finish straight at Circuit of the Americas   [pic credit: CotA media]
Sebastian Vettel (GER) Red Bull Racing walks the circuit.
17.07.2014. Formula 1 World Championship, Rd 10, German Grand Prix, Hockenheim, Germany, Preparation Day.
Sebastian Vettel (GER) Red Bull Racing walks the circuit.
17.07.2014. Formula 1 World Championship, Rd 10, German Grand Prix, Hockenheim, Germany, Preparation Day.
Sebastian Vettel (GER) Red Bull Racing walks the circuit.
17.07.2014. Formula 1 World Championship, Rd 10, German Grand Prix, Hockenheim, Germany, Preparation Day.
Sebastian Vettel (GER) Red Bull Racing walks the circuit.
17.07.2014. Formula 1 World Championship, Rd 10, German Grand Prix, Hockenheim, Germany, Preparation Day.
Jean-Eric Vergne (FRA) Scuderia Toro Rosso walks the circuit.
17.07.2014. Formula 1 World Championship, Rd 10, German Grand Prix, Hockenheim, Germany, Preparation Day.
Circuit preparations.
17.07.2014. Formula 1 World Championship, Rd 10, German Grand Prix, Hockenheim, Germany, Preparation Day.
Adrian Sutil (GER) Sauber walks the circuit.
17.07.2014. Formula 1 World Championship, Rd 10, German Grand Prix, Hockenheim, Germany, Preparation Day.
Sergio Perez (MEX) Sahara Force India F1 walks the circuit.
17.07.2014. Formula 1 World Championship, Rd 10, German Grand Prix, Hockenheim, Germany, Preparation Day.
Sergio Perez (MEX) Sahara Force India F1 walks the circuit.
17.07.2014. Formula 1 World Championship, Rd 10, German Grand Prix, Hockenheim, Germany, Preparation Day.
Pastor Maldonado (VEN) Lotus F1 Team walks the circuit.
17.07.2014. Formula 1 World Championship, Rd 10, German Grand Prix, Hockenheim, Germany, Preparation Day.
Nico Hulkenberg (GER) Sahara Force India F1 walks the circuit.
17.07.2014. Formula 1 World Championship, Rd 10, German Grand Prix, Hockenheim, Germany, Preparation Day.
Romain Grosjean (FRA) Lotus F1 Team walks the circuit.
17.07.2014. Formula 1 World Championship, Rd 10, German Grand Prix, Hockenheim, Germany, Preparation Day.
Circuit preparations.
17.07.2014. Formula 1 World Championship, Rd 10, German Grand Prix, Hockenheim, Germany, Preparation Day.
Circuit preparations.
17.07.2014. Formula 1 World Championship, Rd 10, German Grand Prix, Hockenheim, Germany, Preparation Day.
Circuit preparations as part of it is dug up.
17.07.2014. Formula 1 World Championship, Rd 10, German Grand Prix, Hockenheim, Germany, Preparation Day.
Max Chilton (GBR) Marussia F1 Team walks the circuit.
17.07.2014. Formula 1 World Championship, Rd 10, German Grand Prix, Hockenheim, Germany, Preparation Day.

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IanH

August 21, 2012 3:43 PM

Last year when all the finances blew up that resulted in Tevo losing the driving seat, I called the Major events people in Austin. Although this funding doesn't come out of government funding the Austin papers were and I expect still are stirring up stories of this money being funded by "your" local and state taxes. The money comes from the additional state taxes collected as a result of the event, as a refund or in advance. When local pressure got bad the Texas comptroller Susan Combes reneged on the advance payment that killed Tevo's deal. So we are left wondering what the hell is going on now ? This money was used for the Super Bowl and all sorts of other events.



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