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Old 23 Jun 2011, 14:03 (Ref:2904750)   #796
chillibowl
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on the other hand the group building the track believe that one of the purposes of this state event fund is to provide funds to events which will in turn generate enough additional taxes to offset the state's contribution. in an ideal world it will be at minimum a revenue neutral subsidy....this of course remains to be seen.

what we do know is that so far they haven't received any gov't money, yet the owners/developers are still going ahead with construction. i imagine a lot of people have already dug deep into their own pockets to start building something that only has positive implications for motor sports at large in the region. so far all the money which has been spent is theirs and still they get condemned for trying to get access to public money which is only there for events like this. go figure!

one would hope that they have a plan in place to borrow the money in case the state backs out. if their numbers are to be believed (even half believed) then they should have no problem securing the additional funds and in the end may be able to secure a better deal from BE (something comparable to Montreal's sanction fees) because they are on their own and F1 needs a race in the USA.
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