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I don't know how it works in other countries, but here, in the U.S., wealthy sport's team owners expect and usually get the taxpayer to pay for their venue. Of course, the owners demand mostly all of the profits, but they structure the deal so they have no financial responsibility if the thing fails. This is probably the case with the New Jersey GP.
Although I have no first hand knowledge, it appears to me the New Jersey elected officials won't come to terms with Eccelstone, Hindery, Pook, et al. Too small of a cut for the pols, no doubt. We do know Bernie gets his money upfront. He never leaves town empty handed.