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Motorsport Week

Funding for Austin GP safe despite opposition

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15 years ago
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Government budget skeptics in Texas are questioning how the state will fund the race, the first of which is set to take place in the summer of next year.

According to reports, the Texas state is grappling with a budget deficit of almost $27 billion (£16bn) over the next two years and is having to make huge cuts in order to reduce that figure.

With the announcement that Formula One would return to America, the state announced they would provide $25 million (£15m) annually to support the event, totalling $250m over the decade long contract.

Several members of the council have questioned where that money will come from and, if should be better spent.

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“The money would be better spent on the schools,” Clay Robison of the Texas State Teachers Association told FoxNews.

“I’m a baseball fan, and I would be opposed to them spending money on a new baseball stadium,” he added.

Meanwhile, State Senator Dan Patrick recently tried to block the funding, however he was unsuccessful in his attempts, but he remains against the decision.

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

State officials have reassured supporters that the funding remains in place and are confident the economic impact, reportedly around $300m annually, would easily recuperate the money spent by the government. 

“It’s still there [the funding]. It’s not been stripped,” Allen Spelce, spokesman for state Comptroller Susan Combs said. “It’s still moving along in the budget process.

“It’s revenue-neutral … what we’re doing is we’re front-ending the $25 million. It could potentially even bring in more money.”

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