#cota

Formula One has always been a rich person’s sport, but it has become equally as exclusive for fans trying to get tickets. Three-day passes for the U.S. Grand Prix at Circuit of the Americas (COTA) in Austin can easily cost $600 or more, and prices at other venues are just as steep. Some fans got an early-bird deal for this year’s race at COTA, paying just $299 for three-day passes, but now, track officials are offering a buy-back so they can re-sell the tickets later at a higher price.

Just weeks following the conclusion of a rain-soaked United States Grand Prix at the Circuit of the Americas in Austin, Texas, certain details are coming to light that threaten the continuation of the event — and quite possibly operation of the facility as a whole.

One of the many pieces that keeps the event in Austin is the state’s Major Events Trust Fund, which has provided $25 million a year to race promoters since COTA began hosting Formula 1 in 2012.

It was believed the annual $25 million payment was assured for at least 10 years, for a total commitment of $250 million, to be paid by the State of Texas. However, a change in government and an audit of how the fund calculates major events payments has meant race organizers received just $19.5 million for 2015, or $5.5 million less than what was expected.

Motorsports coverage is rarely part of TTAC’s remit, but I would be remiss if I failed to mention the first Grand-Am race at Circuit of the Americas. It’s great to have another world-class track in the United States, and there was some great racing there this past week.

This is making the rounds of the driver-training people on Facebook right now. It’s interesting to watch for a few reasons. Critique it yourself then click the jump.