United States Grand Prix Has Been Put in Jeopardy over F1 Filing Error

Posted by josephhaiden43 on March 20th, 2019

The F1 Grand Prix is most undeniably is the most attended racing event of all time. You can get desirable Formula One United States Grand Prix Tickets Discount at Tickets4Race. However, according to a state report, the Formula One Auto Racing may have made a mistake while filling for the funds for The Grand Prix racing event which could lead the organization to lose 25.9 million dollars of public funding.

The United States Grand Prix is scheduled to take place in October on the 3.4-mile Circuit of the Americas (COTA) track which is situated just outside the state’s capital city of Austin. F1 first introduced Grand Prix in 2012 and it quickly reached top among fan favorites. The event was attended by more than 263,160 racing fans that count as the fourth highest attendance in any F1 event. Get Your Formula One United States Grand Prix Tickets so you can be one of them this coming event.

There is no denying, Grand Prix has brought in more tourists and more revenue to the state of Texas with tickets selling alone. So seeing it as a government responsibility the state usually covers the funding for the hosting of the event.  Texas first started providing hosting funds for the major events that attract tourists in 2004 and later F1 was also added to the list of those events and the State agreed on paying 25 million every year.

In fact, it isn’t much of a burden on the state because the funds are paid from the increased sale tax revenues which wouldn’t have been received if not for the race. The race brought 7.3 million according to a report by the state and this year it will be even grander with more audience. So Buy Cheap Formula One United States Grand Prix Tickets at Tickets4Race so you don’t miss out the chance.

 

COTA started for claiming the funding for the upcoming event last year in the month of August but the an application made under the Major Events Reimbursement Program (MERP) needs to be filed by its representatives which would be F1 in this case. Everything took place smoothly everything was ready even the MERP Fund was approved but then according to Bryan Daniel, executive director of economic development & tourism at the state of Texas they apparently noticed something missing.

The state of Texas has introduced new legislation in 2017 that requires a human trafficking prevention plan filed before 31 days of the events the first day to receive the MERP funding. F1 had placed the plan in 2018 for the MotoGP motorcycle championship in April but from the looks of it, Grand Prix needed a separate one. The Cheapest Formula One United States Grand Prix Tickets are on sale now and can be purchased from Tickets4Race.com.

One would believe that F1 would be aware of any local law that can put its races in jeopardy but it didn’t seem to be the case this time around. The plan was finally filed 18 days before the main event on October 3. But the Funds still didn’t came and the reason was told to be the late filing of the plan which was due to filed before 30 days of the first day of the event and no later. In the light of this flaw, the MERP find F1 not eligible for the fund and the September 24th application approval was canceled. This caused a major back and forth between COTA and spokesmen for Texas with result reaming intact. It could be said that the requirement of the plan was fulfiller though not within the deadline but there is no guarantee this would help. All this while the situation worked to intensify the tensions between COTA and F1.  However, anything can happen and if you are planning to join the crown in this year’s Grand Prix, visit Tickets4Race for the Formula One United States Grand Prix Tickets Discount Code, you can use it at the checkout and earn a massive Discount. Hurry now till the offer lasts.

Link To Directory
Top Searches - Trending Searches - New Articles - Top Articles - Trending Articles - Featured Articles - Top Members

Copyright 2019 Uberant.com
615,102 total articles and counting.