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I may be over simplifying this, but it seems that the builders want a signed contract to continue building. The FOM need the sanctioning fee to sign the contract. The special events fund won't pay the sanctioning fee until the race has shown an economic gain. So...there can't be a track without a contract, there can't be contract without the sanctioning fee, and there can't be a sanctioning fee without a race. To me this sounds like no track, no contract, and no race.
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