Just how much is an F1 track really worth?

It "is not merely a question for F1 aficionados and playboy investors, according to an American-Statesman analysis done with the assistance of London-based Formula Money, an independent annual financial guide to the sport." Lawyers "will begin arguing in Austin courts this spring" about the taxable value of Austin’s F1 track, Circuit of the Americas. Millions of property tax dollars "are at stake." One thing "is clear from the dispute and from similar situations in other parts of the world: Formula One tracks are dicey investments."

They face such bizarre financial realities that "they appear to lose most of their value the moment construction is finished" — complicating the task of figuring out how much track owners should pay in taxes. Formula Money editor Christian Sylt said the underlying economics "call into question why investors would agree to fund construction." He added, "Maybe investors are not always aware of this destruction in value before they commit their money to a project … which costs around 20 times more than it will be worth." American Statesman