Frank Bullitt

If old Red McCombs wants to leave behind a legacy besides 350 Ford and Kia dealerships... then he should just write another check for the $25,000,000 and be done iwth it.

Wonder if any of these Boyz sat down with the good folk of the Indianapolis Motor Speedway before stepping off in this lil' adventure? Bernie can wreck your world in an instant.

DCP

I've really had quite enough of this negative talk. If you guys keep talking like this and money people get wind of this, the track may not get finished. If the track is not finished, I cannot drive it. My driving it likely has to happen under the second owner who is trying to salvage something out of it. Prior to going broke, the original owner will want a fortune for track rental.

So, please, please be quiet.

Adrienne

Hey VR, are you going to the HCR annual meeting this evening? One of the guys from Red McCombs is speaking. It would be a great time to ask him to bring out his checkbook, or find out the plans....

Veloce Raptor

No, wish I could.

Family in town...

Land Jet

Why would they even want the government involved? First thing you know there will be pollution restrictions, noise restrictions, mph restrictions, a tax increase on all things racing, affirmative action, etc, etc.

They are better off with private funding.

J richard

Unfortunately with as f'ed up as the markets are the banks aren't lending, private capital is sitting idle, the gov is about the only game in town...

Argg...don't get me started...

Veloce Raptor

I agree. This $25 million was to be used to pay Bernie's sanctioning fee.

multi21

And there is the rub. I'd like an F1 track site in the US, but as a taxpayer who just sent in his check to the federal govt this week it pains me to think that Bernie is somehow getting his hands on that $$.

Ritter v4.0

Totally agree. If this is indeed Circuit de Americas let Carlos Slim cut a small cheque against partial ownership.

Sweeper

Well said!!! +1000

DCP

He isn't. This was a Texas tax tourism incentive thing. The idea is that if you bring a big sporting event to Texas, it will generate sales and similar tax revenue. The program pays a share of that increased revenue to the host community, which can use the funds to try to land the big event. It has been used in the past for the Super Bowl, Final Four, etc.

multi21

Is this Texas State money and not Federal funds?

I'm not in favor of using public money to build stadiums, ball parks, race tracks, etc. But if a state or municipality provides "incentives" similar to tax breaks to lure or attract private enterprise to build a stadium, factory, office building etc in their town in hopes of increasing tax revenue and jobs in their community, that's their business. I'm a little unclear on what is going on in Texas with this project.

DCP

It is Texas tax money only. It is at the state tax level, not the local tax level, but the deal is that the state sends tax money to the local government in the area.

As a Texan, my problem with it is whether it is realistic that the F1 event creates an additional $25M in sales tax revenue in the two to three years it will exist. Now that the track has MotoGP, which probably does stick around, I am not so concerned.

paradisenb

Will be? There already are pollution and noise restrictions at all tracks (that I've driven) and all construction sites.

" affirmative action" Likely out of the mouth of a white boy. If you had ever lived or had an extended stay where you were the minority you would not take this tone.
Even so, all wise men can see the writing on the walls; young white children will be a minority group when they are adults. Supporting the idea of equality is in your best interest. Talk about shooting oneself in the foot.

"They are better off with private funding." Absolutely.

onefastviking

I think this ......

http://www.texastrustfunds.com/5.html

Past events that got funds....
Year Event City
2004 Super Bowl Houston
NCAA Final Four San Antonio
Major League Baseball All Star Game Houston
2006 National Basketball Association All Star Game Houston
Houston Grand Prix Houston
2007 National Hockey League All-Star Game Dallas
Big 12 Football Championship Game San Antono
National Cutting Horse Association Futurity Fort Worth
National Cutting Horse Association Super Stakes Fort Worth
American Quarter Horse Association Bayer Select Event Amarillo
Appaloosa Horse Club World Championship Fort Worth
American Paint Horse Association World Championship Fort Worth
2008 American Paint Horse World Championship Fort Worth
NCAA Final Four San Antonio
NCAA Final Four Regionals Houston
National Cutting Horse Association Summer Spectacular Fort Worth
National Cutting Horse Association Super Stakes Fort Worth
Houston Grand Prix Houston