Construction at Austin track suspended

[BDunnell]

And so much also for Tavo Hellmund making so much play of his excellent, long-standing relationship with Ecclestone, making him the person to bring a GP back to the United States.

[ShiftingGears]

It looked like such a good circuit as well. That is a shame if it never materialises.

[Shifter]

What I keep wondering is if the track even needs to be tied at the hip to hosting F1 initially? Would it be at all possible to build a track (perhaps even a shortened version to save $$), and go ahead and host everything else like the U.S. based series, concerts, events etc? Would it be possible to eventually turn a profit if the F1 sanctioning fees were lopped off the projected costs?

If so, then they could just make upgrades if they tried again in the future. At least we'd have something good come out of all this.

[martinbalmer]

What I keep wondering is if the track even needs to be tied at the hip to hosting F1 initially? Would it be at all possible to build a track (perhaps even a shortened version to save $$), and go ahead and host everything else like the U.S. based series, concerts, events etc? Would it be possible to eventually turn a profit if the F1 sanctioning fees were lopped off the projected costs?

If so, then they could just make upgrades if they tried again in the future. At least we'd have something good come out of all this.

Isn't MotoGP planning on going there?

[gloomyDAY]

This is reminiscent of the game Bernie played with Donnington Park and Silverstone.

Donnington Park = COTA

Silverstone = NJ

[nigelred5]

As I've read everything overthe past month or two, Tavo had the connections to get the F1 race contract via his personal friendship with BE, as well as the connections to get State funding. Tavo however was essentially not a financial stake holder in the TRACK. Epstein is the circuit owner and is, well from the sounds of it, a control freak and wanted sole control and ownership of the F1 race contract. From teh sound of it, he esentially wanted it for next to nothing. There was a story published a month or so ago about Hellemund asking the State events fund if transferring the race promotion would affect the $25M state funding.... Apparently the answer was not only YES, but the guaranteed funding went from 364 days before the event to not until AFTER the race, meaning not only would the promoters have to build the track, but pay formula one up front, out of their pocket. Tavo wanted to be paid for the race deals he landed, Epstein not only wouldn't pay what Tavo wanted, but F1 also would not give Epstein the same discounted sanctioning fees Tavo had recieved from Bernie. Bernie has an ace in the hole with the race he really wanted in the New York Metro Area. Tavo has just as many connections in Mexico as in Austin from what I've read, so he could just as easily talk Bernie into moving the race to Mexico where someone like Carlos Slim can pay for a new track out of his wallet change and get whatever government pemits he needs.

My concern quite honestly would be all the nastiness going on with the ongoing turf wars between the drug cartels. As much as I love Mexico and as many times as I've been down there, I'm going nowhere near most of Mexico anytime soon..

[nigelred5]

What I keep wondering is if the track even needs to be tied at the hip to hosting F1 initially? Would it be at all possible to build a track (perhaps even a shortened version to save $$), and go ahead and host everything else like the U.S. based series, concerts, events etc? Would it be possible to eventually turn a profit if the F1 sanctioning fees were lopped off the projected costs?

If so, then they could just make upgrades if they tried again in the future. At least we'd have something good come out of all this.

The developers of the track have answered that question with a firm ,YES. NO F1 contract, no track. They have no interest in building the track without the guaranteed ten year contract. Moto GP and V8 Supercars were to make some money. I suspect the MotoGP crowd in Texas would have ended up just as large as the F1 crowd. Wouldn't suprise me at all if the majority of this was a ruse to land the NY race BE really wanted.

It's a shame the track won't be built anyway, but there's huge race politics with TMS in Texas.

[nigelred5]

And so much also for Tavo Hellmund making so much play of his excellent, long-standing relationship with Ecclestone, making him the person to bring a GP back to the United States.

I don't think that is the problem. Its the relationship between Tavo and Epstein, the money man. Tavo landed the deal, but hte deal was only good beteween Bernie and Tavo, not Bernie and Epstein. Epstein doesn't rate the family discount.....

[D28]

Here is a link to Speedtv, which has a statement from Texas comptroller Susan Combs stating that no public funds will be paid in advance of a race. Also posted is her letter of May 2010 to Bernie appearing to say the opposite.

FORMULA ONE - F1: Combs Letter Promised Advance Payment For Austin Race

Also there is the latest quotes from Bernie similar to the Autosport story. Seem like they have about 1 week to come to terms, or there is no contract, and no race.

A complicated situation for sure. Gentlemen start your lawsuits!

[Kevincal]

if f1 racing is going to be as contrived and ****ty as 2011, i couldnt care less about ANY of the races, let alone a new one...