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Commitment to pay $25m provides lifeline for USGP
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A commitment from the State of Texas to pay $25million per year in funding for the United States Grand Prix could help save the race. Having first hosted a race in 2012, the round at the Circuit of the Americas (COTA) in Austin is currently marked as subject to agreement with the promoter as a result of financial concerns at the circuit. Originally, the State of Texas had been paying $25m towards the race hosting fee, but this year reduced that amount to $19.5m following a review of its impact on the local area. The contribution comes from a fund which was set up to attract major events to Texas, but the reduction had left the grand prix in doubt due to circuit...
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