Should Indiana pay for the United States Grand Prix?

[SpeedwayDemocrat]

Have any of you heard about this interesting rumor from the Grand Prix's web site out of England? Nobody in the local media has picked this up yet (although I tipped them off on this earlier today; no confirmation yet).

QUESTIONS:
--Would Indiana be willing to pay to keep the US Grand Prix?
--Has anyone asked the Governor or the Mayor?
--Should the local authorities offer incentives to teams?
-- Should we try to lure a major NASCAR team with subsidies?

While I'm a Speedway resident and would like to see more development and activity, I don't like the idea of subsidizing another sports event or venue. We've already had a stadium shoved down out throats. Plus, the idea of paying Bernie Ecclestone money after he helped screw the race last year really makes me mad. And this is the part I find interesting:

"There are also rumours that a plan is being discussed for a major Disney auto racing theme park to be built on land to the south of the Indianapolis Motor Speedway, in order to create an attraction to pull in more tourists. The 280-acre site is believed to be separate from the large tract of land owned by George on the south side of the Speedway. This is currently used for parking but there have been discussions for years about a major development including a hotel and convention centre that would be connected to the race track by walkways across 16th Street."

A Disney-type park? What? Hmmm...Here's the article, with a link below:
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JUNE 28, 2006
Why the State of Indiana might pay for the United States Grand Prix

The negotiating between the Formula One group and Indianapolis Motor Speedway over the terms for a future contract for the United States Grand Prix has resulted in some rather ill-advised remarks in recent weeks, not least the suggestion from Bernie Ecclestone that Formula 1 does not need America. That is clearly not the case as remarks from various teams have shown. Everyone wants the US Grand Prix to be a success, indeed some teams want more that one race in the United States. That is entirely logical given the vast consumer markets that America offers. At the same time Tony George is like many other promoters and is not keen on paying the Formula One group so much money that he cannot make a decent profit on the race. And it is fair to say that he has a right to be a little irritated after the mess F1 made last year.

The key point in all of this is that if Ecclestone wants more money and George does not want to pay there is a danger that the race will disappear - and that would be a big blow for not only the Indianapolis Motor Speedway and Formula One but also for the city of Indianapolis and the state of Indiana. The race is estimated to bring in around $100m each year to the city from the teams and from tens of thousands of fans who fly in for the event. Indianapolis has not had an easy time in recent years. A trip around the town reveals a great deal of factory space available. Indianapolis likes to think of itself as the capital of auto racing in the United States of America but in recent years the IRL-Champ Car split has damaged the business considerably and there is pressure on the city from Charlotte where the NASCAR teams have created an impressive motor racing cluster. The Grand Prix is an important element for Indianapolis to maintain its former status.

The good news is that the local authorities have shown themselves to be willing to offer incentives to teams and there has been talk for some time of a major NASCAR team being lured to Indiana with subsidies.
<snip>
There are also rumours that a plan is being discussed for a major Disney auto racing theme park to be built on land to the south of the Indianapolis Motor Speedway, in order to create an attraction to pull in more tourists. The 280-acre site is believed to be separate from the large tract of land owned by George on the south side of the Speedway. This is currently used for parking but there have been discussions for years about a major development including a hotel and convention centre that would be connected to the race track by walkways across 16th Street. The plans and rumours are vague but clearly Indianapolis needs to maintain its traditions in racing if such projects are to be successful and in order to do that it makes sense to keep F1.

<http://www.grandprix.com/ns/ns17046.html>

[Indy_Dem_Defender]

1. bump

QUESTIONS:
--Would Indiana be willing to pay to keep the US Grand Prix?
I don't think we need to at all, IMS makes enough off of ticket sales, souvenirs, food & drinks and corporate sponsorships that at the very least they will come out even. I know for a fact the brickyard makes them $$$, and the 500 makes a profit each year (No matter what champ car cartroaches say). The fact that the Indianapolis Motor Speedways is one of the few sporting attractions that isn't subsidized by the government is something to respect the Hulman/George Family for along with the money that comes into the city for the race.

--Has anyone asked the Governor or the Mayor?
I think both would hate to see the money leave that the USGP brings into the city but would really be worried or lose any sleep in the long run because it really is a distant third to the Brickyard and the 500. Now if Nascar got a feather under their ass and started asking for more money for running the brickyard, Bart and Mitch would both open the city and state pocketbook and start dumping money in Tony George's lap to save the race.
--Should the local authorities offer incentives to teams?
Nope not at all, It's not really creating a bunch of new jobs. If say Hendricks Motorsports where to move their operation here to Indy (Fat Chance). The very good majority of their employees are going to move with the team here because their working their dream job (That sounds strangely like United Airlines). If with the few that stay in the carolinas, what's the most jobs that will be available 20-25. That is not enough in my eyes to give them an incentives to move here and who cares if the the local newscast has something else to pump indiana up about by bragging about landing a Nascar team.

-- Should we try to lure a major NASCAR team with subsidies?
Nope, nope, nope! Just opens the Door for IRL and CART Teams to starting demanding money as by threating to move their teams out of town.