Drive Wire: Formula One Faces Texas-sized Troubles
Troubling news on the motorsports front – the Formula One US Grand Prix is under scrutiny. The state of Texas cut the subsidy for Circuit of the Americas from $25 million to 19.5 million. F1 president Becclestone says “it may be difficult to continue the race in Austin.” Circuit of the Americas chairman Bobby Epstein told the Austin-American Statesman Newspaper “to use a technical term, I think we’re screwed.” Funding was cut after a state audit concluded that the race was earning 20 percent less for Texas than originally predicted. Fingers crossed for fans and all the good people at the Circuit of the Americas.