BC-CAR--F1-US Grand Prix-Finances
AUSTIN, Texas (AP) — A Formula One official says the series expects to race the U.S. Grand Prix at the Circuit of the Americas for “many years to come” despite the track’s failed effort to secure $25 million in Texas public money.
Formula One Managing Director of Commercial Operations Sean Bratches suggested Tuesday that F1 remains confident in the race’s financial security.
The Circuit of the Americas relies heavily on annual payments from the state and has collected more than $150 million from the Major Events Reimbursement Program since 2012. A missed paperwork deadline in 2018 disqualified the track’s application last year.
Some Texas lawmakers wanted to let the track re-apply for the cash, but the effort failed before the Legislature adjourned Monday until 2020. The track can still apply to the fund for future races.
Circuit of the Americas President Bobby Epstein declined comment Tuesday.