COTA to miss out of $20m state funding after administration error

by Vince Pettit

According to a report on Austin-based Statesman, Circuit of the Americas could be down on at least $20 million in state funding due to Gov. Greg Abbott‘s office rejecting the group’s annual application for reimbursement following the 2018 Formula 1 race at the track.

The governors office claim that the circuit missed the deadline for submitting an anti-human trafficking plan, which was required as part of their reimbursement request.

In 2017 the circuit was reimbursed $27 million through the programme following the US Grand Prix, $26 million for the 2016 Formula 1 race and $22.7 million for the 2015 United States Grand Prix.

In the past officials have said that the state funding is crucial to maintaining successful operations at the circuit.

It is not known yet how the funding shortfall will affect future events, but in 2016 COTA chairman Bobby Epstein, and then Formula 1 chief executive Bernie Ecclestone warned that a drop of $5.5 million in state funding would put the future of the United States Grand Prix in doubt.

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