• US Grand Prix

Finance blow for Austin development

ESPNF1 Staff
April 19, 2011 « 'This cannot and must not be the team's level' - Ferrari | »
US Grand Prix organiser Tavo Hellmund and his construction workforce only broke ground on the site in January © US Grand Prix
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The venue for the 2012 US Grand Prix at Austin was dealt a potential blow after the Texas State Senate's finance committee voted 10-4 to pull a $25 million package to assist the development of the under-construction Circuit of the Americas, local KXAN news reported.

"At a time when people are stressed about their schools, stressed about their jobs, stressed about health care and nursing homes, for us to check off $25 million for race cars, I think we make people say where are their priorities," senator Dan Patrick told the station. "That $25 million would pay for 500 teacher salaries. How can we explain to people we're spending that money on race cars?"

But the amendment is only to the senate version of the forthcoming state budget, not the version in the House of Representatives. The report concluded it was likely "most if not all of the incentives" would ultimately be restored.

© ESPN Sports Media Ltd.
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