The Texas home of Formula 1 in the U.S. was denied the chance to host a race this year, but has received its big state payment to cover expenses for the 2019 U.S. Grand Prix. Texas made its annual payment to the beleaguered Circuit of the Americas in Austin, sending nearly $27 million on July 2, according to state records. That was about three weeks before F1 formally cancelled the 2020 U.S. Grand Prix due to the coronavirus pandemic. That race was supposed to be held in late October. The money will pay the costs of staging the 2019 race, track Chairman Bobby Epstein said Tuesday. That includes a massive rights fee estimated at about $30 million paid to F1 just to host the race. “This is...
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