03/12/2015
NEWS STORY
Whilst some of the new races that quietly slipped off the calendar after just a couple of years are not missed, there is genuine concern as to the future of the United States Grand Prix at the Circuit of the Americas.
Last month it was revealed that funding problems, due to the State of Texas reducing its subsidy for the event, having changed the manner in which the (financial) benefits of it are calculated, had led to a shortfall.
Already severely hit - no pun intended - by the impact the weather had on the entire weekend, the decision to reduce the subsidy by 20% has left organisers unable to meet the financial demands of the contract with FOM which sees race hosting fees increase by 10% year on year.
Whilst Bernie Ecclestone gave permission for race organisers to pay the 2015 fee late there are concerns moving forwards, especially as Texas authorities are seeking to reduce the subside even further.
In 2012, 2103 and 2014, the state paid $25m, but this year, just weeks before the race was due to take place it was revealed that the subsidy would drop to $19.5m, leading to COTA chairman Bobby Epstein to famously admit "we're screwed".
A change to the (record) 21-date calendar issued in September sees Mexico's round of the 2016 season moved forward one week so that it is now back-to-back with Austin, though the Texas event has that worrying asterisk.
Nonetheless, having waited so long to get the United States back on the calendar, Ecclestone, and the manufacturers, will be looking for a solution that suits everyone.