COTA Could Lose $250 Million in Taxpayer Money

[cosworth151]

The San Antonio Express-News newspaper is reporting that COTA may lose the $250 million dollars in taxpayer money it uses to pay Bernie for the USGP. The taxpayer subsidy has always been unpopular in Texas. Now that Texas Governor Rick Perry is in major political trouble, the Tilke track has lost its primary political benefactor.

 Stephanie Richmond, a former Major Events Trust Fund board member, has testified in a sworn affidavit that the venue never submitted the proper paperwork. The newspaper’s report also noted, “Travis County Judge Sam Biscoe said that Travis County never filed an application with Formula One [and he said], ‘The process was botched from the beginning ... it was clear then and it’s even clearer now, the statute was not complied with.”

http://autoweek.com/article/formula-one/circuit-americas-could-face-challenge-texas-state-funding-f1-according-newspaper

[Scott]

Bernie gave a verbal ok?  Yeesh, that doesn't seem like him, does it    I can't believe a little technicality could get in the way of $250m though.  Somebody will lose their job, but just like the sun sets in the west, Bernie will get his money.

[Jericoke]

Bernie gave a verbal ok?  Yeesh, that doesn't seem like him, does it    I can't believe a little technicality could get in the way of $250m though.  Somebody will lose their job, but just like the sun sets in the west, Bernie will get his money.

I don't know... You Don't Mess With Texas.

While I can't imagine there's a businessman in Texas Bernie can't take on, when you start talking politics and public opinion, Texas is whole other ball of wax that outsiders cannot easily penetrate.

[John S]

This is all just political bo**ocks - if you don't mind me saying so. The Major Events Trust Fund was set up to do what it says in the title and COTA and the GP of the Americas is just the sort of major event it's meant to support.

We all know that rival political factions have been tying to sink COTA from even before it was built, now they want to nail it with some missing paperwork or a wrongful procedure. 

Too many opponents of COTA and the GP of the Americas, including our own dear Cossie, just can't accept what a good venue and race we've now got.

I hope they have Stetsons on the podium again this year. 

[cosworth151]

In reality, the Major Events Trust Fund was set up to funnel tax money to the Dallas Cowboys, the U.T. Longhorns and getting the Super Bowl in Texas. Football is king down there. I've seen high school stadiums in Texas with multiple Jumbotrons. I doubt you could find a dozen people in all of Texas who could name even one current F1 driver.

Texas leads the nation in the percentage of residents who lack health insurance. Almost one third of Texans age 18 to 65 have no health insurance at all. Schools all over the state are closing due to lack of funds. Do you really think they want $250 million of their tax dollars going into Bernie's pockets?

COTA is the most over rated venue in the history of motorsports. It's bad even by Tilke standards. It's not even as good as Yas Marina. (At least it has that funky, color-shifting hotel.) Fans can't even drive to it. F1 will never get any traction in the States until it goes back to a venue people have heard of.

[John S]

In reality, the Major Events Trust Fund was set up to funnel tax money to the Dallas Cowboys, the U.T. Longhorns and getting the Super Bowl in Texas. Football is king down there.

Maybe they should have named it the Major Football Events Trust Fund then. 
.....................or maybe someone just got the paperwork wrong when they set it up. 

[cosworth151]

Do you really expect honesty from politicians?