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GP Week : Issue 123
UNITED States Grand Prix organisers in Austin, Texas have succeeded in getting the event officially endorsed by the Austin City Council, paving the way for the race to benefit from an annual $25m subsidy. A meeting of the council last Tuesday voted to approve an environmental deal for the race venue, Circuit of the Americas, byamarginof5to2. The council had deliberated over the matter for more than three weeks prior to yesterday’s vote, but the council’s approval now means the race can draw on $25m from the state’s major events trust fund to help pay the annual race sanctioning fee. “ We appreciate the Council’s approval of the endorsement,” said Steve Sexton, President of Circuit of The Americas. “ This is a major step toward our vision of bringing the world to Austin to enjoy one of the most spectacular international events in sports. This partnership sets a new standard that every new sports or entertainment venue around the world can emulate.” The inaugural race at the Circuit of the Americas is scheduled to take place on June 17th next year, marking a return to the United States for the first time in five years. Austin City Council endorses F1 Grand Prix Race to benefit from $25m annual subsidy 10