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Formula 1 Should Own Circuits, U.S. Grand Prix Promoter Epstein Says

U.S. Grand Prix promoter Bobby Epstein said that it would "make sense" for Formula 1 owner Liberty Media to buy some circuits as part of its "long-term strategic plans for the sport," according to Alan Baldwin of REUTERS. Circuit of the Americas co-Founder & Chair Epstein, whose Austin, Texas, track is "the country's sole purpose-built F1 facility," said that he would be happy to do a deal "at the right price." He added, however, that there had been "no discussions with Liberty." Epstein said, "I do think it makes a lot of sense for them to own some circuits. It would have to be part of any long-term strategy for them. I see a lot of logic and business reasons for them to own some circuits." F1's previous business model, "which the new owners have said they want to change," has been based on TV revenues and circuits paying "significant hosting fees with an annual escalator." Epstein: "I think all of the circuits struggle under the current environment. If they (Liberty) change it and help the circuits survive, are they better off owning the circuits than making concessions?" Asked "directly" about the possibility of Liberty buying circuits, F1 Managing Dir, Commercial Operations Sean Bratches "said only" that there were "a number of different models that can be pursued" (REUTERS, 3/29).

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