Formula 1 News

U.S state of Texas in the spotlight with its F1 project

The plan for a purpose made F1 circuit in is facing heavy criticism.
Saturday, May 14, 2011

LOS ANGELES, May 13, 2011 (AFP) - The group behind bringing Formula One racing back to America next year are facing fresh criticism from sceptics who say the cash-strapped Texas state can't afford the ambitious scheme.

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With a budget deficit estimated to reach $27 billion over the next two years, some state lawmakers are wondering where the $250 million is going to come from to build a new race facility in Austin, Texas.

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The plan is to initially pump $25 million into the facility then use the revenue generated to reinvest $25 million each year for 10 years.

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Backers of the project have estimated that the Formula One race will bring in about $300 million in revenue annually to the city but Texas senator Dan Patrick isn't buying it.

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"This is something we should not be doing," Patrick said. "How can you justify spending $25 million? That is 500 teachers."

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Opponents of the plan think the money would be better spent on education and preventing the layoff of teachers.

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Formula One is expected to make a return to the US in 2012 with the purpose-built Austin circuit. Under the agreement, the Texas capital city will host the US Grand Prix until 2021.

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The Indianapolis Motor Speedway hosted a US Grand Prix from 2000-2007, an eight-year run that had it's problems.
In 2005, 14 of 20 drivers withdrew just prior to the start of the race to protest concerns about tyre safety.

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Prior to arriving at Indianapolis, Formula One had run in the US in Long Beach, California, Las Vegas, Detroit, Dallas and Phoenix on a variety of street circuits.

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