New Jersey Grand Prix: A Threat to Austin?
While the organization of a Grand Prix in the state of New Jersey by 2013 is expected to be officially announced in the coming hours, the Texas Treasury assures that it will have no influence on the subsidies granted to the Circuit of the Americas near Austin.
As an official close to the matter confirms that today’s press conference at Port Imperial in Weehawken will indeed announce the organization of an F1 Grand Prix in New Jersey, likely under the name “Grand Prix of America,” concerns have arisen about the impact this announcement could have on the future of the already fragile United States Grand Prix, scheduled for late 2012 at the Circuit of the Americas, near Austin.
Indeed, some fear that, faced with the competition of another Grand Prix organized on American soil, the Austin circuit may lose the public aid of $250 million, spread over ten years, which has already been difficult to obtain. Last week, Bill Aleshire, a local lawyer and fervent opponent of the project, stated in a letter sent to Susan Combs, head of the Texas Treasury, that the subsidy granted by the state of Texas was only valid if Texas was the sole host of the United States Formula One Grand Prix.
The race in New Jersey will have no impact on the one in Austin » assures Brooke Botello, spokesperson for Susan Combs, before adding that there are indeed conditions for the disbursement of this state aid, but they only pertain to the organization of an event in the State of Texas and therefore do not concern the organization of a second American Grand Prix in another state of the country.
For their part, the officials at the Circuit of the Americas, near Austin, declined to comment until the announcement of a Grand Prix in New Jersey was official. An announcement will be broadcast live on Speed TV, starting at 8 PM.
