Formula One Requests $4 Million Per Year From City

Austinites: Tell F1 to hit the road.
I've been in Austin for 27 years, and I just gotta say, we aren't a F1 kinda town. We already have enough festivals, football asshats, and Real Estate subsidy shenanigans.. and we've had enough.
Our status in the world is already in the 'growth' sector, we dont need a red-necky, multi-mega-sponsor sport to add to that.
It's amazing how all these Funds/Corporations/Organizations still ask the taxpayers for more junk to feed the useless consumer dipshit continuum.

boring

As I see it, this is a venture that's "worth a shot" for the Austin area, and I have no problem with it taking place.  However, the venture's risk is substantial.  Therefore I think it's imprudent for taxpayer funds to be invested directly in any way.  For this reason, I think that F1 should be a completely privately funded enterprise.  Surely Red McCombs and the other investors can handle the project's cost?

is

F1

The reason for this is because the city/state won't let the F1 track have it's own police force to close roads, direct traffic etc.  Also, the sewer and plumbing work being put in for the track also services a huge area out there by the track and will facilitate new homes, businesses etc.  This will be an active every day facility.  The track itself will barely make any money but the ancillary enterprises supporting it will make a ton.  Go hug a tree and stop whining.  

 Go take an economics class. The Formula One Management in Geneva, Switzerland would not be here if they didnt have an opportunity to make enormous profits. 

And where- in your vast realm of municipality management knowledge, do  you think that 12,000 tons of fan effluent will find it's way to a fantasy water-treatment pant in the sky?

Sure, F1 sports may supplement your sexual inadequacies, but excluding that- would you let a foreign entity come into your MUD and ask for a huge freebie, even if they are tied to plenty of cash wealth, and have no recourse for local repercussions?  If this were a French company selling a Soccer stadium (much bigger fan base) - you'd probably freak out.

You all need to wake up.  F1 will bring people here from all over the world and I'm not talking about hipsters with $5 in their pockets.  I'm talking hundreds of millions.  Not only will F1 come, but now you will have all the other international motorsports that just haven't had an FIA regulation track in the USA to race on.  This isn't NASCAR and this isn't your same old oval track with a bunch of drunk rednecks.  This is about technology, precision, fashion, global enterprise, celebrities... etc. etc.  It will be like Paris fashion week when F1 comes to town.  They have forecasted that the F1 race will created about 5 times the revenue that SXSW or ACL creates in one event.  There are many teams talking about relocating, so then you will have a bunch of race affiliated businesses move in and so on and so forth.  This is close to a $1Billion dollar project and everyone is getting upset over a few million!?  Wake up people.  We are SOOOOOOOO luck to get this track.  This is huge.  

 Where do you get your info? F1 has been a failure in ALL  US markets, not to mention a 40 Million dollar hole in Melbourne... The TV ratings (i.e. sponsor $$) are horrid, and most of the lower end sponsors already have $$ tied up in  NASCAR.

I prefer F1 and IRL to NASCAR but you're a fool if you think that NASCAR is nothing but an oval track with dumb rednecks. NASCAR has struggled with the downturn in the economy but a track is still a license to print money.

Ridiculous!! The city/state/county weren't
supposed to spend ANY money. Now we're funding roads, sewers, and who
knows what else. Tell me how WE'RE making money on this? I'm tired of
the generic argument of "the city will be making a TON of money" How?!
The hotels here are already full and I can't get a table as it is when I
go to eat, what other money are WE making?! Do I get to pay less taxes?
Do I get a rebate/refund? Do I get a discount ticket?! no, no, and no.
STOP taxpayer funding of rich people's pocket lining endeavors. It's a
scam, if it's going to make SO much money then the owners shouldn't need
to have us pay for it.

You are an idiot.  

Thanks for the intelligent discourse. Nothing has been proven that the city will make money. Show me some evidence and perhaps I will believe you. But the CoA's track record along with the track record of past tracks around the world do not add up to blind optimism of magical money flowing into the coffers. The person that will make money is the track owners, hmmm. Who are the idiots? all of us for lining their pockets.

I live in Austin and I am not lining their pockets. And, if you live in Austin, neither are you. City council members and city attorneys had a very long discourse checking the facts and figures of the contract.

I've been an F! fan since the middle '60s, but this is just plain blackmail.

I wish the State of Texas would tell F1 to take a hike - and while we're at it maybe the American TV networks (who fund 90% of the Olympic games) will do likewise to the International Olympic Committee...

Give 'em a $2 million loan with forgiveness contingent on additional tax collections of $6 million directly attributable to F1.