Funding dispute could end US GP saya Ecclestone

No doubt a number of F1 fans would be sad to see the race go, especially as British driver Lewis Hamilton secured his 2015 season after a thrilling win in Austin.

Now, the U.S. Grand Prix is held at the Circuit of the Americas in Austin, Texas.

‘The state clearly made promises. The Texas Major Events Trust Fund was approved by previous state governor Rick Parry.

State lawmakers gave Abbott control of the fund this year.

Texas doled out $25 million to race organizers from 2012 to 2014, but this year it will only award $19.5 million.

Since its GP debut in 2012, the Austin track has received $25million per year from the Texas state government based on the economic value of F1 to the region.

Abbott did not take questions at a Veterans Day ceremony Wednesday.

“It’s inappropriate for an applicant to expect the governor to violate the legal standard and an independent auditor’s decision”, Meisenheimer said. “It brings a lot of people here. It helps brand us as an global city”.

Formula One chief Bernie Ecclestone did not immediately respond to requests from The Associated Press for comment.

“If it’s changed, it’s going to be hard to continue the race in Austin”, Ecclestone told the American-Statesman at the Brazilian Grand Prix. And though it can claim ownership of the likes of Mario Andretti and Phil Hill, and more recently Haas Formula One and Alexander Rossi, its achievements in this European-dominated sport are dwarfed by its own domestic sporting achievements.

The problem is that the Austin facility was built knowing the level of funding would remain as is, as Circuit of Americas spokesperson Dave Shaw explained.

The circuit itself has been funded by state financial incentives of about 300 million dollars, which was paid so the city could have an all-purpose racing track for formula one as well as MotoGP, and the World Endurance Championship.

But the Formula One race is the key to its survival and officials have said they are still paying off construction debt.

Formula One didn’t race in the US from 2008-2011.