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SBD/October 22, 2012/Leagues and Governing Bodies
Source: Texas Teachers' Fund To Buy 3% Stake In F1 For $200M
Published October 22, 2012
GETTING THE GREEN LIGHT: In Austin, Doolittle & Maher note former IndyCar driver Mario Andretti yesterday "officially opened the Circuit of the Americas ... breaking in the $300 million racetrack with a few laps in a vintage Formula One ride, a Lotus 79 Cosworth." Organizers held a ribbon-cutting ceremony that "featured Andretti, actor and race driver Patrick Dempsey and local and circuit officials, including Austin Mayor Lee Leffingwell and state Comptroller Susan Combs" (AUSTIN AMERICAN-STATESMAN, 10/22).
WAITING GAME: The WALL STREET JOURNAL's Heather Haddon reported the "first Grand Prix to be held in the New York metropolitan area will be postponed a year" from '13 to '14. Organizers said that the "postponement was due to 'ongoing construction issues' in building the 3.2 mile course." Grand Prix of America Exec Chair Leo Hindery in an e-mail said, “We promised [N.J. Governor Chris] Christie, the towns, the sport and its international fans the best possible experience, and unfortunately we need additional time to ensure that happens." Organizers said that additional time is "needed to build a second pit and a garage at the Port Imperial site." Progress has been made "in constructing the first garage, track engineering and hiring" (WSJ.com, 10/19).