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Here's an idea though, if live TV is too expensive, how about live streaming a few of the driver's in-car cameras? Add to that lap by lap live timing and it makes it a good event to watch if you can't get there and are from another part of the country.
Would be relatively cheap to implement I would have thought. You could even put a live track-cam somewhere, doesn't have to be HD quality and can just be fixed at a point of interest on the track like the start-finish.
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