Financial threats for Formula 1 races in United States and Mexico
- Shahmir Khan
- Feb 22, 2019
- 2 min read
Mexican and United States Grand Prix's future is unclear, as financial issues arise for the race organisers.
The U.S Grand Prix organisers are unlikely to get $25 million if funding from state of Texas after missing the paperwork deadline.
The Mexican Grand Prix is also in danger now for a long time as the Mexican mayor thinks the money could be spent on better initiatives.
"By 2020, the federal government no longer has the resource because it is allocating most of the fund to the completion of the Mayan Train," mayor of Mexico Claudia Sheinbaum said.
Both races get government support but now they are left with no choice. No Liberty Media or FOM official responded after the news.
The races come one after other on the calendar and are hugely welcomed by fans, with the 2018 United States Grand Prix voted the best race of the year. The Mexican Grand Prix has also been quite interesting, providing a large Foro Sol stadium section as well as giving some of the best action and drama. Lewis Hamilton won his championship twice in Mexico in 2017 and 2018.
According to trusted sources, the United States Grand Prix got funded more than $150 Million since it's comeback to the F1 calendar in 2012.
"The State of Texas and COTA have a productive partnership that has had a tremendous economic impact on the city of Austin and the state as a whole, and our office is already working with COTA on this year's race," said the governor's spokesman.
No comments from the race promoter Bobby Epstein have come neither.
The 2 races aren't the ones in danger, as one of most popular Formula 1 races, the British Grand Prix is also slowly reaching the deadline for a deal, with the last race being held in 2019.
As it stands, Liberty Media has to take care of some very important business and have to focus on important races on calendar rather than routing for a newer one.
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