By Associated Press
Oklahoma City – OKLAHOMA CITY (AP) The Oklahoma City Council has rejected a letter of intent calling for the city to provide $7 million to help bring a Grand Prix race to downtown.
The council voted 6-2 against the proposal Tuesday. Opponents said they did not feel comfortable committing the money in the current economic climate.
The proposal by Oklahoma City Grand Prix LLC called for an American Le Mans Series race during the Fourth of July weekend next year. The money was to be repaid by the group over a 10-year period.
Businessman Trent Ward helped lead the effort to secure the funding and said after the vote that the opportunity to host such a race probably won't come again.