News Details

Ecclestone grants Austin extra time to pay hosting fee

The United States Grand Prix, hosted at Austin's Circuit of the Americas, has been cut some slack by Bernie Ecclestone in light of funding cuts by the local government. COTA had been receiving around $25 million (£16.4m) in state funding, much of which is used to cover the hosting fee demanded by Formula One Management. However this year that has been cut to just $19m (£12.4m) due to the way in which the races economic impact is calculated. As a result, Ecclestone has granted the race organisers additional time to pay their fee for the 2015 event. "We said they can pay late this year," the 85-year-old told the Austin American-Statesman. "They get money...
Full Story »
Share

You May Also Be Interested In...

Ecclestone gives Austin some breathing space

Following a shortfall in its state subsidy, Bernie Ecclestone is allowing...
9y ago from Pitpass.com

'We're screwed' says COTA chairman as funding is cut

The United States Grand Prix, held at the Circuit of the Americas in...
9y ago from GrandPrixTimes.com

Austin yet to pay Formula 1 fee for 2015

Formula 1 supremo Bernie Ecclestone hopes Austin can get the future of...
9y ago from GrandPrix247.com

US GP future under threat as Texas cuts state subsidy

The future of the US GP has been thrown into doubt by the news that the...
9y ago from Motorsport.com

Elsewhere On The Network

Popular On MGPToday.com

Marc Marquez admits he ‘needs to work on mistakes’...

Marc Marquez admits he and younger brother Alex Marquez "were the...
17h ago from MotorsportWeek.c...

Jorge Martin confirms intention to leave Aprilia at...

Reigning World Champion Jorge Martin has released a statement confirming...
21h ago from MotorsportWeek.c...

Popular On IndyCarToday.com

Veteran engineer Michael Cannon returns to Dale Coyne...

Dale Coyne Racing has announced that it has re-hired expert engineer...

Three drivers lose Indy 500 finishing positions after...

The NTT IndyCar Series has penalized three drivers following the...

Popular On TotalWRC.com

Popular On GunnersToday.com

Gabriel new deal + Is Sesko the one?

Morning. Let's start this Friday with some good news, and that's Gabriel...
57m ago from Arseblog.com

Collymore's column: 9/10 season for Chelsea, Thierry...

In his exclusive column for CaughtOffside, former England striker Stan...
27m ago from CaughtOffside.com

“It’s going to be vital who he adds to that...

Arsenal legend Ian Wright believes the Gunners need to sign three players...
37m ago from SportsKeeda.com

Arsenal centre-back 'on brink' of contract renewal as...

Arsenal are reportedly on the brink of tying one of their key defenders...
8h ago from SportsMole.co.uk

Comments

Hottest News

Recent News


2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.