I think the bigger problem with the COTA handout is you're really just sending that money to Liberty and eventually the teams. Though obviously taking the sanction fee burden off COTA's hands means they can make some money on the event. Though where event profit or paying back the cost of the circuit goes, is anyone's guess. How much of this money actually stays in, or benefits, Texas seems questionable. But that's always the case when the local government steps in to back a sporting event or a stadium or whatever. If they want it, they find a way to make the numbers work.
eg there was a hilarious claim about the America's Cup bringing a billion dollars in value to the San Francisco Bay area
Yep. COTA for example makes similar claims of incredible economic impact numbers that somehow dwarf economic impact claims of better-attended GPs & other huge races/events (like 10-15x as much ... $5.4 Bn economic impact in 4 years, over a million foreign/out of state visitors a year, bigger F1 impact than SXSW, ACL Fest, and Texas Football, etc).
Re: your point about where the money goes, yeah, exactly. For example, in COTA's case, they've always counted all the money spent on hotels, airline tickets to Austin, rental cars, etc as money their events have brought to the State of Texas. The reality is that a huge chunk of that money is actually going to big companies in other states or countries & never makes it to Texas.
Re: the circuit, here's a COTA variation that I wish actually existed ... :drool:
Edited by AustinF1, 05 June 2021 - 17:15.