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Is COTA Living Up To Expectations?


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Is COTA Living Up To Expectations?
Hard to believe they say some of these things with a straight face.

 

According to the Texas Comptroller's Office, COTA has received $61.2 million in reimbursements from the State of Texas's events trust fund. The world-class facility has claimed COTA-hosted events are projected to generate an annual economic impact of $400 million to $500 million, equating to $4 billion to $5 billion over 10 years for Texas. Now two years have passed, is the track living up to its promise? "We are filling out our calendar with things that bring large crowds," said COTA spokesperson Julie Loignon. So far there are 200 events scheduled. That includes F1 which brings in $500 million alone every year. And the newcomer X Games is expected to rake in $50 million yearly. "We are in the second year for most of the races we are doing. X games is brand new. Redfest a country festival and a comedy festival is new this year," said Loignon. The challenge COTA face now, Loignon says, is making the international events more popular in the U.S. "Our job is to try to make sure that U.S. fans of sports entertainment know that these things are going on. They are every bit exciting as the races we've grown up watching," said Loignon. But with 80 percent of the F1 attendees being from outside of Texas, it only helps push money into hotels and local shops. Success or not? We will have to wait and see. This weekend's MotoGP is just the first of several major events on the track's calendar this year. Redfest is May23-25, X Games June 5-8 and F1 USGP Oct 31-Nov 2.
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One gets the distinct impression that attendance figures provided by COTA are fudged in the positive direction.

 

And since I was expecting Epstein to make serious management blunders after his betrayal of Tavo, I can honestly say he has lived up to my expectations and has kept right on making management blunders.

 

I do think, however, that Tavo's course design has proven to be exceptionally well-received by those who race on it, so in that regard it has lived up to my expectations

 

Nick

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Breath inhale: The world-class facility has claimed COTA-hosted events are projected to generate an annual economic impact of $400 million to $500 million

 

Breath exhale: So far there are 200 events scheduled. That includes F1 which brings in $500 million alone every year.

 

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200 events?

Yeah. Right!

 

Including the SVRA & SCCA events,I think there have been 9 race events and 30 or fewer race event days at COTA. Ever. Have there been 170 concerts + track days + misc events? Doubtful.

 

& F1 brings in $500M for each GP, and 80% of attendees are from out of state? No WAY. Not even close on either count. They actually said that with a straight face. Pretty good skills there. I'm a huge F1 fan and fan of road racing in general, and I love that we have this world-class facility right in our back yard, but I just can't stomach all this nonsense being perpetuated to abuse a subsidy program.

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Neil Upchurch asked me to post this for him:

 

The late Dick Conole, owner of Texas World Speedway, would have had a highly successful track if state grant subsidies like CotA receives would have ever been donated to TWS by any governmental body to pay his bills.

In that day the only money that was handled between TWS and the state of Texas and the U.S. Government were plenty of tax payments from Texas World Speedway to the county, College Station, state of Texas and the IRS.

How time has changed everything!


Neil Upchurch
Former Race Director at Texas World Speedway

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  • 2 months later...

And I saw a flying moose the other day .... no really. I'm serious. Now can I have some more money? Oh, not until I tell a few more whoppers?

 

Nick

you have to stop sniffing that cheap stripes gas ..step up to shell and you may see a white rino or two or angels ..

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