Why statist/communist F1 race fails without subsidies

[ottumwan in tx]

It's the euro way: the euro communist model {similar to the aca} it fails without subsidies:

"Economic development officials in Gov. Greg Abbott’s office are dramatically cutting the state’s annual contribution to Austin’s Formula One race, a move race and track officials said imperils the event’s future.

Officials with the governor’s office and Circuit of the Americas confirmed that the state’s payment to support the 2015 race would drop by more than 20 percent from previous years. The state had contributed about $25 million in 2012, 2013 and 2014; this year the amount will be closer to $19.5 million."

http://www.mystatesman.com/news/new...-future-of-austins-f1-race-is-in-doubt/npKxM/

 

[KitingHigh]

Seems more and issue with one race in Austin than it does F1 in general. The article also mentions how the NCAA and NFL are paid to have events there.

 

[ottumwan in tx]

Yes and i would point out that it's the only race in america and we learned how to do it from the euro communists and the nfl uses italian style fascism to eminent domain us to death

 

[naturalmwa]

Sounds like a problem with Texas.

 

[SSG T]

So let's see... The State of Texas is wanting to cut funding to a privately financed track, funding which supports a race that produces an economic impact to the greater Austin area of a few hundred million $$ per year and taxes back to the state that nearly matches their annual funding?

Makes sense.

 

[KitingHigh]

If I was told correctly Monaco is the only venue that doesn't pay F1 to be there. The rest happily do so.

 

[ottumwan in tx]

The problem is governor abbott realized the f1 guys are commie fraudsters and he wants to cut the funding and liberal statists are screaming bloody murder as if he were cutting medicaid.