F1 »

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

Click on relevant pic to enlarge
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]
02.11.2014 - Race, Lewis Hamilton (GBR) Mercedes AMG F1 W05 race winner
02.11.2014 - Race, Fernando Alonso (ESP) Scuderia Ferrari F14-T and Pastor Maldonado (VEN) Lotus F1 Team E22
02.11.2014 - Race, Fernando Alonso (ESP) Scuderia Ferrari F14-T
02.11.2014 - Race, Sebastian Vettel (GER) Red Bull Racing RB10 and Kimi Raikkonen (FIN) Scuderia Ferrari F14-T
02.11.2014 - Race, Kimi Raikkonen (FIN) Scuderia Ferrari F14-T leads Jean-Eric Vergne (FRA) Scuderia Toro Rosso STR9
02.11.2014 - Race, Mario Andretti (USA) and Lewis Hamilton (GBR) Mercedes AMG F1 W05, race winner
02.11.2014 - Race, Lewis Hamilton (GBR) Mercedes AMG F1 W05 leads Nico Rosberg (GER) Mercedes AMG F1 W05
02.11.2014 - Race, Lewis Hamilton (GBR) Mercedes AMG F1 W05 leads Nico Rosberg (GER) Mercedes AMG F1 W05
02.11.2014 - Race, Fernando Alonso (ESP) Scuderia Ferrari F14-T
02.11.2014 - Race, Lewis Hamilton (GBR) Mercedes AMG F1 W05 race winner
02.11.2014 - Race, Lewis Hamilton (GBR) Mercedes AMG F1 W05 race winner
02.11.2014 - Race, Lewis Hamilton (GBR) Mercedes AMG F1 W05 leads Nico Rosberg (GER) Mercedes AMG F1 W05
02.11.2014 - Race, 1st position Lewis Hamilton (GBR) Mercedes AMG F1 W05, 2nd position Nico Rosberg (GER) Mercedes AMG F1 W05 and 3rd position Daniel Ricciardo (AUS) Red Bull Racing RB10
02.11.2014 - Race, Lewis Hamilton (GBR) Mercedes AMG F1 W05 race winner
02.11.2014 - Race, Nico Rosberg (GER) Mercedes AMG F1 W05
02.11.2014 - Race, Kimi Raikkonen (FIN) Scuderia Ferrari F14-T

Join the conversation - Add your comment

Please login or register before adding your comments.

Although the administrators and moderators of this website will attempt to keep all objectionable comments off these pages, it is impossible for us to review all messages. All messages express the views of the poster, and neither Crash Media Group nor Crash.Net will be held responsible for the content of any message. We do not vouch for or warrant the accuracy, completeness or usefulness of any message, and are not responsible for the contents of any message. If you find a message objectionable, please contact us and inform us of the problem or use the [report] function next to the offending post. Any message that does not conform with the policy of this service can be edited or removed with immediate effect.


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.



© 1999 - 2014 Crash Media Group

The total or partial reproduction of text, photographs or illustrations is not permitted in any form.