Do tell.WhiteBlue wrote:It shows that my general observation was pretty accurate.
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Circuit of The Americas today announced that it has been declared ready to host the 2012 F1 United States GP by Charlie Whiting, who directs racing, safety and technical matters for the FIA. Whiting visited the Central Texas racing circuit as part of a scheduled pre-race inspection and approved the circuit for “Grade 1” status, hence appropriate to host an F1 race.
Do tell.WhiteBlue wrote:It shows that my general observation was pretty accurate.
...and now he has to explain all of that to his investors.WhiteBlue wrote:Austin is on the officially approved schedule now. So the conclusion is that they have paid up. The BBC http://news.bbc.co.uk/sport2/hi/formula ... 067944.stm
mentions a fee of $35m. This is thought to increase by a contractually agreed 7% annual rise. A special finance package that reduced the initial payment to $25m and used a steeper annual increase of 10% was offered to Hellmund. But that package was withdrawn when COTA failed to sign the contract issued to Hellmund. The loss of the special package and the advance finance from the METF will mean that there will be a massive finance double digit cost increase. On top the circuit will have to accelerate the construction schedule to catch up with the time lost since the summer slow down. That is also very likely to cost them extra. The whole thing looks like a lot of egg on Bobby Epstein's face for trying to play hard ball with Tavo and Bernie. I would not be surprised if the price for this folly would add up to $ 20-30m.
Have you ever been to Austin?kadisandrew wrote:I see that as a very bad area to be absolutely genuine. I see that as in the center of NASCAR nation, where I don't see there being many regional lovers engaged.
Don't waste your time Strad. This thing has been beaten to death.strad wrote:HUH????????
bhallg2k wrote:THERE'S GOING TO BE A GRAND PRIX THREE HOURS FROM WHERE I LIVE!!!
Happy Christmas, everybody.
Amenbhallg2k wrote:THERE'S GOING TO BE A GRAND PRIX THREE HOURS FROM WHERE I LIVE!!!
Happy Christmas, everybody.
Dare I say both comments are welcome but rather premature? I hope both turn out to be true.
Don't rain on my parade, man. I get enough of that living in Texas, where it seems to rain only on my parade.richard_leeds wrote:Dare I say both comments are welcome but rather premature? I hope both turn out to be true.
Dig it bro!bhallg2k wrote:The international view of U.S. interest in F1 has always cracked me up. I guess it must be a pretty well-kept secret that the USGP is consistently the most-attended race of the season.
On another note: THERE'S GOING TO BE A GRAND PRIX THREE HOURS FROM WHERE I LIVE!!!
Happy Christmas, everybody.
No sweat!IF....they can catch-up to the construction scedule....
Mr Alcatraz wrote: (which btw I blame on Michelin for not anticipating the demands on the tires at that venue but that is another topic altogether).
??WhiteBlue wrote: They will take a huge hit due to Epstein's folly and he will get a lot of egg on his face when the details of the deal will emerge in the future. Estimates range from $20m short term to $80m over the duration of the contract.
I guess Tevo is still the good guy in all of this."I want to thank and commend Bobby Epstein for getting us across the finish line. Bobby's perseverance and leadership kept the project on track despite unfair and unfounded criticism.
"Our investors have believed all along that this project has tremendous benefit for our region, and provides a strong economic engine for the future," stated Epstein, founding partner of Circuit of The Americas.
"We remain committed to reaching our goal of being valuable community partners as we establish a platform for sports and entertainment. We're glad that Tavo's vision of bringing F1 to the people of Texas will become a reality."
"We have a substantial number of fans who have expressed interest in buying tickets and hospitality, so today is a win for all of them as much as it is for Circuit of The Americas," said Steve Sexton, president of Circuit of The Americas, added.
"We encourage everyone to visit our website and register for information. Registered fans will receive the first communication regarding ticket sales plans. In a matter of weeks we will have more exciting news as we unveil our full calendar of world class events."
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