Hot News
for your iPhone
for your iPad
Go to our forums to discuss this news
DATE News (chronologically)
F1 investments approaching $200 million mark
Funding for the Circuit of the Americas has now reached almost $200 million. A recent filing with the Securities and Exchange Commission shows Circuit of the Americas LLC has received $90 million from 17 lenders.

"The proceeds from the offering will be used for general capital working purposes," the filing said.

No money from the loan will be used to pay the circuit's executive officers, directors or promoters, according to an estimate on the form. The filing did not list the lenders, say whether they were individuals or financial institutions or whether any were based in the United States.

In addition to the loans, an SEC filing earlier this week showed COTA Racing & Entertainment had raised $94.3 million from 24 investors, all of whom invested at least $100,000.

Last March, an SEC filing disclosed that $12.5 million had been raised for Austin Formula 1 Racing and Entertainment LLC from 10 investors.

The 3.4-mile circuit under construction in southeastern Travis County is scheduled to host a Formula One Grand Prix on Nov. 18. Work on the $300 million project continued Thursday. There, the three-story paddock, or team garage area, is divided into six zones. Construction on the first three zones began earlier and now the second stage of construction is getting in gear at zone six at the far end of the paddock. The Statesman
Hot News Archives
2000 2001 2002 2003

Search Hot News
Search Help
AutoRacing1 Inc. BBB Business Review