New York race no threat to Texas grand prix
25 October, 2011
Oct.25 (GMM) The addition of a second Formula 1 race in the USA will not affect the state funding of the 2012 United States grand prix in Texas.
That is the claim of the state’s comptroller Susan Combs, amid speculation the New York street race set for 2013 could endanger the $25m annually set aside for Austin’s separate event on a purpose-built circuit.
“The New Jersey race has no bearing on the Austin race,” said a spokesperson for Combs, according to the local American Statesman newspaper.
The spokesperson clarified that the funding would only be endangered if two events were scheduled in Texas.
But lawyer Bill Aleshire, an opponent of the Austin race, does not agree.
He said in a letter that the Circuit of the Americas will be “disqualified” from the state funding now that New York is also headed to the F1 schedule.
“By our state law, the Texas tax kickback is available if Texas has the only F1 US grand prix,” he wrote.
The Circuit of the Americas declined to comment.