New economic suggestion for US GP

June.20 – New four-million dollar contract having been suggested among F1 commercial rights holders – Bernie Ecclestone’s Formula One Management (FOM) – and the Major actions Trust Fund, according to Mayor of Austin. The brand-new, Hermann Tilke-designed venue – which remains under construction ahead of its F1 debut next year – has been subject to numerous rumours regarding its cost and general upkeep, although Mayor Lee Leffingwell is pleased with the projected agreement.

“This confirms what I’ve been saying all along – that the city would be contributing no upfront money and that the city would not be at risk (financially),” Leffingwell explained to The Austin Chronicle. Formula 1 has agreed to pay the four-million dollar contribution to the Major Events Trust Fund for the full ten years,” added council member Bill Spelman.

Whether or not the deal will go through will be decided in the council’s next meeting on Thursday.

All material and photos are copyrighted material and owned by their respective owners. Use or depiction of images or trademarks throughout this website is for illustrative and editorial purposes only.Images come courtesy of; ferrari.com, mclaren.com, forceindiaf1.com, redbull.com, mercedesgp.com, renaultf1.com, toyota, bmw-sauber, williamsf1, lotus, virgin, Daylife.com, getty Images/LAT and AP Photos.

Facebook Comments
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

ThisisF1.com is not affiliated with Formula 1, Formula One Management, Formula One Administration, Formula One Licensing BV or any other subsidiary associated with the official Formula One governing organizations The website is an unofficial website, all names and logos used here are property of their respective owners, more specially FORMULA 1, FORMULA ONE, F1, GRAND PRIX and logos and the wide Curves logo are trademarks of Formula One Licensing BV, a Formula One Group Company. Use or depiction of images or trademarks throughout this website is for illustrative and editorial purposes only. Official Formula One information can be found at www.formula1.com

Copyright © 2015 Thisisf1.com

To Top