Formula One pays just £1million corporation tax on £300million profit

[rustyrider]

I read an article in my local newspaper a week or so back. It cost the regional government in Valencia Spain £35 million pounds /Euros to run the GP last year of which £€27 million was paid to that little weasel Ecilstone. as usual more gets more.
Lew

What the hell was the Government doing paying for it?  The normal way it is run is that the circuit pays for the privilege of hosting a GP and get their money back from the paying punters who go to watch.  You can't blame Bernie if the circuit can't do their sums, they agreed the price in the first place and if they need the Government to bail them out then it might go some way to explain why the Spanish economy is in the state it is.