Texas yet to release US GP funding

Organisers of the 2012 US grand prix are still yet to access state funding for the Circuit of the Americas project.

The FIA has scheduled a mid-June date for the inaugural Austin event, amid reports race organisers want a different date due to the hot Texas summer.

But time to build the bespoke facility is nonetheless short, with the City of Austin only now filing documents with the state to access the touted $25 million in support.

The Texas comptroller has 30 days to review the request and release the funding from the major events trust fund, according to the local Austin American Statesman.

“It is unclear when the funds … need to be paid to F1 officials,” added the report.

Source: GMM

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