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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...
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9y ago from GrandPrixTimes.com
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