So-called “NASCAR loophole” tax break set to expire

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This is one from the business of racing department, but the so-called “NASCAR loophole” that accelerates the depreciation of race tracks, and thus provided a small tax break for builders, is pretty much gone for 2014, per a report from the Washington Post.

According to that report, this break allowed NASCAR tracks to, in theory, compete on a level playing field with other theme parks. An earlier Post report from June 2012 said the cut expired itself at the end of 2011, as it was not renewed by Congress. The revenue impact though, wouldn’t happen until Fiscal Year 2013.

The loophole could occur because, according to a 2012 Daily Beast report, NASCAR racetrack owners could deduct the depreciation over seven years instead of the government-estimated 39 years. The cost to the government was estimated at that time at $40 million per year, and the cost to extend, per the Post today, would be $50 million annually.

Ricciardo: Red Bull has ‘decent chance’ of Abu Dhabi F1 victory

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Daniel Ricciardo believes Red Bull stands a “decent chance” of signing off from the 2017 Formula 1 season with a victory in next weekend’s Abu Dhabi Grand Prix.

After a slow start to the year, Red Bull made massive gains across the course of the season by developing its RB13 to end the season as front-runners, rivaling Mercedes and Ferrari for pace.

The Yas Marina Circuit in Abu Dhabi has a number of slow-speed sections that should suit the RB13 car, with Ricciardo optimistic about his chances of not only ending his podium drought at the track, but even winning the race.

“Yas Marina has actually been one of my favorite tracks over the years,” Ricciardo said in Red Bull’s pre-race preview.

“It’s been a bit like Suzuka for me though, a track that I’ve always enjoyed and gone well on but not quite reached the podium at. I broke that trend in Suzuka this year so hopefully I can do the same in Abu Dhabi.

“When you have so much time away from the car in the off season it helps to sign off with a strong result as it makes you feel like you really deserve a break.

“I think we should have a strong car in Abu Dhabi. I said I want another win before the season is out and I think we have a decent chance of achieving that.”

Red Bull has claimed three race wins through 2017, with Ricciardo’s victory in Azerbaijan being followed up by successes for teammate Max Verstappen in Malaysia and Mexico.