Austin set for green light?

09/03/2016
NEWS STORY

Ahead of the busiest schedule in the history of the sport, there remains an asterisk against the United States Grand Prix, due to take place at the Circuit of the Americas in October.

The event was placed in doubt - i.e. subject to confirmation - over financial issues, namely the State of Texas reducing its subsidy for the event, having changed the manner in which the (financial) benefits of it are calculated, which led to a cash a shortfall.

Already severely hit by the impact the weather had on the entire 2015 weekend, the decision to reduce the subsidy by 20% left organisers unable to meet the financial demands of their contract with FOM whose race hosting fees increase by 10% year on year.

Though Bernie Ecclestone gave permission for race organisers to pay the 2015 fee late there were naturally concerns moving forwards, especially as the Texas authorities are seeking to reduce the subside even further.

In 2012, 2103 and 2014, the state paid $25m, but in 2015, 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".

Now, just over a week before the first race of the season gets underway, there is hope.

"It isn't confirmed until we pay, and as of today no money has been paid," COTA President Bobby Epstein told Reuters. "We haven't paid a dime yet. But watch this space."

The press conference is scheduled for later today (Wednesday).

Should the race not go ahead, at 20 races the schedule would be the same as in 2012. More importantly however, should the race be dropped, the engine allowance per driver this season would drop from 5 to 4, a move which would cause some manufacturers more problems than others.

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Published: 09/03/2016
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