The Circuit of Americas (COTA) in Austin, Texas has seen its 2015 tax bill substantially reduced by the local government, saving the track millions and perhaps also its future as the continued venue for the US Grand Prix.
Washed out by appalling weather conditions last year which impacted its revenue, and facing a potential reduction in subsidies by the Texas government, the US Grand Prix has been earmarked as "subject to confirmation" by FOM on the 2016 calendar.
But Texas' decision to lower the value of the F1 racetrack for the past three fiscal years, entailing a lowered tax bill estimated at $13 million, bodes well for its definitive confirmation this year.
Formula 1 supremo Bernie Ecclestone recently expressed his optimism regarding COTA and its promoters.
"I think Austin will happen this year. (Race chief Bobby) Epstein is confident. He knows the money is coming," Ecclestone explained to Forbes.
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