Thursday, July 06, 2006

Burning Sensation

Aren't we trying to figure out how to pay for jail overcrowding issues?
Aren't we trying to figure out if we can put more officers on the street?

Then why are we offering to give $14 to $20 million dollars to the track when they never even asked for it. Tony George and the track pride themselves on never needing government assistance for anything. Blabbering Bart just jumps the gun and starts throwing money around like it is burning a hole in his pocket.

Indianapolis Mayor Bart Peterson is interested in doing his part to bring Formula One back to Indianapolis Motor Speedway for years to come.

Peterson, who attended Sunday's U.S. Grand Prix, said the international motor sports event is too valuable to the city not to assist the Speedway in its pursuit of a new contract.

Options from the original contract in 2000 expired after Sunday's race, won by Ferrari's Michael Schumacher.

"They've never asked (for help)," Peterson said of Speedway officials. "If we were asked, we'd be open to getting involved."

Studies have estimated the local economic impact of the USGP at more than $100 million per year. The race has been held annually since 2000.

Peterson said he understands as many as two-thirds of the fans who attend the race are from other countries. Information about Sunday's event is not yet known.

"If that's true, that's a huge impact," Peterson said. "That's 'new' money, which is very important to the city."

Tony George, the Speedway's chief executive officer, plans to travel to London in the coming weeks to discuss a new contract with F-1 boss Bernie Ecclestone. Industry estimates put Ecclestone's asking price to be somewhere between $14 million and $20 million per year.

While admitting surprise at Peterson's offer, George said he is not currently considering asking the city to contribute to his family-owned business. George's grandfather, Tony Hulman, built the company on the foundation it would avoid using public funds.


At 10:26 AM, Anonymous Anonymous said...

Waste waste waste!

At 11:35 AM, Anonymous Jake said...

I would say spending that money on keeping the city safe would be a much needed investment.

Who wants to come watch a race in a city where crime is out of control?


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