USA Grand Prix Austin (part deux)

[JeremySmith]

I was just using the two races in Spain as an example to be honest..

[Marbot]

Originally Posted by JeremySmith

I was just using the two races in Spain as an example to be honest..

Probably not the best examples, but I see what you're getting at.

You can have exciting and dull races at any sort of track, tbh. And F1 isn't going to leave Monaco behind just because F1 cars have outgrown it.

[JeremySmith]

Originally Posted by Marbot

Probably not the best examples, but I see what you're getting at.

You can have exciting and dull races at any sort of track, tbh. And F1 isn't going to leave Monaco behind just because F1 cars have outgrown it.

Well Spain has two races one using a track and the other a street race that is all..

Monaco is just a special case all to it's own don't you think? It should always be there, as without Ferrari F1 would feel somewhat odd...

[Flyin Ryan]

Originally Posted by Spritle

The biggest of tragedy of all would have been no F1, no jobs, no track AND squandered tax dollars. The folks in Jersey should pay CLOSE attention despite their claims that "no taxpayer dollars will be used" which is never the case BTW.

Jersey is an incredibly corrupt state. Of course there'll be taxpayer dollars used.

(someone has to pay off the mafia construction crews )

[BobHWS]

Another nail in the coffin for the Austin F1 race? Maybe, maybe not. But it is more bad news for Austin F1 supporters.


Land commissioner seeks legal opinion on comptroller's $25 million commitment to F1
By John Maher
AMERICAN-STATESMAN STAFF
Updated: 7:42 p.m. Wednesday, Nov. 23, 2011

Texas Land Commissioner Jerry Patterson claims that Comptroller Susan Combs overstepped her authority in 2010 when she committed $25 million in state funds toward Formula One races planned near Austin, the fate of which is currently in limbo.

Patterson filed a request this week for a state attorney general's opinion as to whether Combs bypassed at least two provisions in state law regarding payments from the state's Major Events Trust Fund, an economic development fund administered by her office.

Patterson said Combs did not receive a request from a local government or nonprofit before committing $25 million for 10 years to be used toward the race and that she had not determined the additional tax revenue the event would create...

[JeremySmith]

This is not new news someone tried this one before and it was dropped...

Susan Combs is the state *financial* controller she does not need permission to do her job...

The fund is a Special Events Fund, this is a special event isn't it?

[JeremySmith]

The saga continues, I just read this...

http://www.pitpass.com/45299-Austin-...o-pay-race-fee

[Marbot]

Well, that is good news!

“We have signed and returned a contract similar to what we anticipated receiving."

But it's not Bernie's contract that they have signed?

Looks like someone's attempt to make it look like it's all Bernie's fault. That will never work!

[JeremySmith]

Well I know, I thought that line was a bit suspect, but Bernie is dealing with Mr Epstein now, need I say more...

If the original contract with Tavo was good for both parties then why did Bernie just not use that one in the first place..

If you read Nigel Roebuck's piece on this subject below, it clarifies a few details about what happened with Tony George..

http://www.motorsportmagazine.com/f1...rican-f1-tale/

While Austin should have had this sorted, they do not want to get eaten alive...

[JeremySmith]

I still believe that it will get sorted out, because the owners of COA have just spent too much money to can it...

It seems to be general consensus that the track is a very good design and is one of Tilke's better efforts..

Just in ....

http://www.autosport.com/news/report.php/id/96435

[Marbot]

Well, it does look like the predictable attempt of one race promoter trying to get the same deal offered to another race promoter.

[thebear]

The race is `coming back' (almost) acccording to AUTOSPORT.

[JeremySmith]

Quite exciting really in a funny sort of way...

[Marbot]

Predictable response from Ecclestone.

http://www.crash.net/f1/news/175138/...tin_offer.html

[Bononi]

Originally Posted by Marbot

Predictable response from Ecclestone.

http://www.crash.net/f1/news/175138/...tin_offer.html

It's normal...

[JeremySmith]

What he needs to understand is that he is not doing business with a third world country. If he is going to use the media to strut his stuff then so are COA, he is not used to that..

Meanwhile I see four at least four of the circuits F1 races at that can no longer afford his fees..

[expaddockrunner]

Originally Posted by expaddockrunner

USA Today website reports!

Texas' F1 race gets next-week-or-else ultimatum http://usat.ly/uEO8VA

what time will the deadline end! european time or texas time.
or will the world have to wait untill the World Motor Sport Council meeting in December

[BobHWS]

Here's a very revealing interview with Bernie about Austin, Tavo, Epstein, etc. The deadline is now Wednesday. I don't think they'll meet it.

Exclusive: Bernie Ecclestone talks to Autoweek about Austin Grand Prix
autoweek.com
No.v. 28, 2011

The future of the United States Grand Prix in Austin should become clearer this week, as Formula One boss Bernie Ecclestone has set a deadline of Wednesday, Nov. 30, for the Circuit of the Americas to conclude its deal to run the race.

Such an eventuality seems unlikely given that Circuit of the Americas doesn't like the new contract that Ecclestone has offered and returned its own version to the F1 boss--with a predictable response. Autoweek's Adam Cooper sat down with Ecclestone in Brazil for an exclusive chat about the situation.

Autoweek: What's the deadline for Austin?

Bernie Ecclestone: The 30th [of November].

So if the money's in the bank by then?

What's more important than money in the bank is we want security for the future, so we've tried to help them with that. We want a letter of credit up front before every race...

Read more: http://www.autoweek.com/article/2011...#ixzz1f2ViFUJg

[TrapezeArtist]

Way back when Austin first popped up, I couldn't be bothered to read all the hype but just waited until the date got closer. Now I seem to have been caught on the hop and missed all the lead-up to this little spat. As is usual in these cases, I can't see that anyone looks squeeky clean. Yes Mr Epstein, I'm the sure the contract is "unreasonable and unfeasible", but other people sign Bernie's contracts. Looked at another way, Bernie is playing poker yet again to make sure he extracts his usual huge sum out of a new GP.

Meanwhile, I love that modest little title, "Circuit of the The Americas". Never ones to underplay their hand, are they?

[bjohnsonsmith]

I don't think it's gonna happen next year, just a feeling.

[LC2guy]

Originally Posted by bjohnsonsmith

I don't think it's gonna happen next year, just a feeling.

Agreed. theres more chance of Elvis Presley landing a flying saucer on the Lock Ness Monsters back than a USGP in 2012 imo, which is a shame.

[Marbot]

Originally Posted by LC2guy

Agreed. theres more chance of Elvis Presley landing a flying saucer on the Lock Ness Monsters back than a USGP in 2012 imo, which is a shame.

I agree. There's just no way Elvis is going to be able to land that thing on its back.

[expaddockrunner]

With less than 24hrs before the so called deadline, i see another problem hitting the Austin Circuit.
this is highlights found in the the local newpaper website.


The uncertainty of Formula One racing in Austin has thrown into limbo plans to widen two-lane Elroy Road on the north side of the F1 property.
Richard Suttle, a lawyer with Circuit of the Americas, had been in discussion over the past few months with Travis County, which owns Elroy Road, and the two sides had verbally agreed to expand the road from two lanes to four.
The race organizers had said they would split the estimated $5 million cost down the middle.
County officials said this week that staffers had done some preliminary work on widening to four lanes about three-quarters of a mile of the road, but they couldn't say how many hours had been devoted to the project.
Travis County has not hired a consultant, or a design or engineering firm for the work, said Steve Manilla, the county executive for transportation and natural resources.
The county, based on the road's poor condition, had already scheduled it for a major rehabilitation next year that would have cost about $2.5 million, but that work will not involve widening the road, nor building a new bridge over Dry Creek, Manilla said.
"It absolutely is in wait-and-see mode," Manilla said of the widening project.
Meanwhile, the City of Austin is building an electric substation on the F1 property but has spent no money on the water and sewer lines that would serve the racetrack, officials said.
Austin Energy had been planning to build a two-transformer substation in the nearby Stoney Ridge subdivision. Then, Circuit of the Americas officials asked Austin Energy to split that substation into two pieces with one of the transformers on the F1 site.
In exchange for this, Circuit of the Americas paid a little more than half of the $3 million cost of the transformer on the F1 site, Austin Energy spokesman Carlos Cordova said.
The transformer on F1 property will serve the surrounding area regardless of whether F1 runs a race there, Cordova said.
He added that Circuit of the Americas also gave Austin Energy a deposit that the utility can keep if the facility does not use a predetermined amount of electricity. The size of the deposit is confidential, Cordova said.
Under an agreement with the city, local F1 backers were to design and pay for the water and sewer lines serving the racetrack, then send the bill to the city for reimbursement.
The city halted plans earlier this month to annex the land that includes what would be the future track.
Construction on the track stopped this week amid a dispute between the race's promoter and the track's investors. The race will not take place next year as planned unless the investors sign a sanctioning contract by the end of next week with F1 boss Bernie Ecclestone.

this story was online Friday 18th November

[BobHWS]

I am skeptical that having another week will help Epstein come up with the cash (in the form of a letter of credit) for Bernie, but Bernie is going to give him that chance.

Report: F1 boss gives circuit organizers another week

By American-Statesman staff | Wednesday, November 30, 2011, 11:20 AM

Update 1:32 p.m.: Bernie Ecclestone today gave Austin circuit organizers another week to prove they have finances in place, according to the Associated Press.

“The deadline hasn’t been met so we are still trying to make it happen … they need to get some money and a pen,” Ecclestone said.

The World Motorsport Council, a powerful arm of the Federation Internationale de l’Automobile, is set to finalize the 2012 calendar next Wednesday.

“If it isn’t all signed before the World Motor Sport Council meeting (the race) can’t happen,” Ecclestone told the AP.

...In a statement Thursday, circuit officials said they were ready to pay the fee for Austin’s planned 2012 Formula One Grand Prix, but on the track’s terms, not those recently offered by Ecclestone.

[Note to Epstein: Not even the devil himself can dictate terms to Bernie, so what makes you think you can? ]

[wolfhound]

Whatever about Bernie it seams like the teams want F1 to suceed in the USA and I agree with them on that.

http://www.autosport.com/news/report.php/id/96588


The question is will Bernie be prepared to allow this to happen i.e. will he agree terms that allows the promoters to make money?