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The Oklahoma City Council has rejected a plan that would have committed $7 million in city money to land a Grand Prix race.
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. After the vote, he said the opportunity to host such a race probably won't come again.
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