COTA Austin - construction and infrastructure

[hairy_scotsman]

Nobody else has ever put F1 & MotoGP on the same track in the same year. That was going to happen in 2013, because of Hellmund.

Silverstone did, and why do you think it is a towering achievement?

When did Silverstone do it? Not saying you're wrong.

Even if they did, it's still something that's happened, what, once before? What it shows is his valuable relationships and ability to get these kinds of deals done.

So, if everyone is raising money, who among the 3 raised to most?

Hellmund did.

What?

Who else brought $250M to the table? Nobody so far.

[xpensive]

Finding the phone number to Tilke must have been a challenge of course, but he also claims to have been working on this race for no less than 20 years, doing what xactly?

That's not the claim. He's been actively working on it for 7-8 years.

Oh but he did, can't say xactly where I read it but I have a crystal clear memory of reading that 20 year statement.

Ridiculous of course, but so is 7-8 years, Windsor and Anderson settled for three.

[Pup]

So, if everyone is raising money, who among the 3 raised to most?

Hellmund did.

I'm not following that. I'm sure that E&C both wrote checks at the start of the partnership. I'm guessing that Tavo's asset was the F1 rights, and if so, I don't know why he refused to turn it over. You'd think that would have been done the day the partnership was formed. The rest of the project was to be financed.

What it seems like to me is that Tavo convinced them to allow him to maintain ownership of the rights until certain conditions were met. That's all fair, smart even, but if that's true then what I don't understand is why Tavo ever considered himself a partner when it seems the marriage was never consummated. And that's why I don't think his suit has legs. I think they didn't force him out because he was never really in to begin with. His partnership and job were dependent upon assigning the rights, and it was his refusal to do so that allowed them to go around his flank. That is, it was the conditions he placed on the assignment that scuppered the deal every bit as much as it was R&C's failure to meet those conditions. Maybe I'm reading it wrong, but to me it seems like the most he'd be entitled to is liquidated damages.

[hairy_scotsman]

Finding the phone number to Tilke must have been a challenge of course, but he also claims to have been working on this race for no less than 20 years, doing what xactly?

That's not the claim. He's been actively working on it for 7-8 years.

Oh but he did, can't say xactly where I read it but I have a crystal clear memory of reading that 20 year statement.

Ridiculous of course, but so is 7-8 years, Windsor and Anderson settled for three.

From the petition:

II. INTRODUCTION
2. For more than twenty years, Hellmund dreamed of building a world-class racing
facility in Austin to be called the Circuit of the Americas (the "Circuit"). At the Circuit, Hellmund planned to return Formula 1 racing to the United States. In addition to Formula 1, Hellmund's vision for the Circuit included hosting races and events such as the world's premier motorcycle racing series "MotoGP," the Australian "V8 Supercars" series, and housing world class educational and research facilities.

3. For the past seven years, Hellmund worked diligently to make his dream a reality. He designed the Circuit and its supporting facilities, which will become the only dedicated Formula 1 track in the United States. He also forged alliances with people such as Bernie Ecclestone (the head of Formula 1), Tony Cochrane (the head of Australia's V8 Supercars Series), Kevin Schwantz (the holder of the rights to MotoGP racing in Texas), Texas Comptroller Susan Combs, and Governor Rick Perry. Through these relationships, Hellmund secured rights to host Formula 1, V8 Supercars Series, and MotoGP races in Texas.

He's talked about it other times, too, and said the same as above.

[hairy_scotsman]

So, if everyone is raising money, who among the 3 raised to most?

Hellmund did.

I'm not following that...

You're not following that Hellmund brought $250M to the table? $250M that's still on the table?

[Pup]

Well, Tavo knew Bernie, but I think his main contribution was in getting the events money from the state, as that was the key to getting Bernie on board. Bernie likes government money.

Of course the flip side of that is that the money wasn't real.

How's that?

What I mean is that by law it couldn't be transferred prior to the event. And it also seems like the 'guarantee' wasn't much of a guarantee. In fact, it seems to me like Susan Combs' promises were as thin as the paper they were written on. It reminds me a bit of Seinfeld's rental car reservation.

[Pup]

So, if everyone is raising money, who among the 3 raised to most?

Hellmund did.

I'm not following that...

You're not following that Hellmund brought $250M to the table? $250M that's still on the table?

No - where do you get that from?

[xpensive]

...
You're not following that Hellmund brought $250M to the table? $250M that's still on the table?

Can you please elaborate on that money, where did it come from and where is it now?


I stand corrected btw, Hellmund dreamt about the race for 20 years, not worked on it.

[Pup]

Which is why I said the petition sounded more like an airing of dirty laundry than anything else. It's full of garbage like Tavo's dreams and stuff like he 'designed the track and supporting facilities'. The hardest part about reading it for me was sussing out the substantial bits from all the puffed up self flattery.

[hairy_scotsman]

Well, Tavo knew Bernie, but I think his main contribution was in getting the events money from the state, as that was the key to getting Bernie on board. Bernie likes government money.

Of course the flip side of that is that the money wasn't real.

How's that?

What I mean is that by law it couldn't be transferred prior to the event.

Yes it could. The law allows for advance payments at the discretion of the Comptroller. She used her discretion to allow an advance payment and then used it again to pull it when she saw things going south. Remember what she said at the time?

It’s really not a Tavo problem. It’s really an investor problem.

http://www.statesman.com/blogs/content/ ... in_f1.html

[hairy_scotsman]

You're not following that Hellmund brought $250M to the table? $250M that's still on the table?

No - where do you get that from?

You seriously don't get that the METF funding is a result of Hellmund's work in lobbying, and the relationships he has?

- F1 is only eligible for METF funding because Hellmund made that happen.
- As a result of this eligibility, F1 stands to receive $250M over the next 10 years.
- That eligibility has not gone away.

What's difficult about it? Hellmund brought more money to the deal than anyone else.

[Pup]

The law allows for advance payments at the discretion of the Comptroller.

Well, I'm going by Combs' letter itself, which states...

Let me state clearly: We have not paid out any money for the Formula 1 event. The only dollars that can be spent on the United States Grand Prix are tax revenues attributable to the successful running of a race. The state of Texas will not be paying any funds in advance of the event. Further, as is the case with all METF events, each application will be reviewed and analyzed for its likely economic impact and only after the race occurs would any funds be disbursed.

[Pup]

You're not following that Hellmund brought $250M to the table? $250M that's still on the table?

No - where do you get that from?

You seriously don't get that the METF funding is a result of Hellmund's work in lobbying, and the relationships he has?

- F1 is only eligible for METF funding because Hellmund made that happen.
- As a result of this eligibility, F1 stands to receive $250M over the next 10 years.
- That eligibility has not gone away.

What's difficult about it? Hellmund brought more money to the deal than anyone else.

Oh, I thought you were talking about track funding. I got it.

[hairy_scotsman]

...
You're not following that Hellmund brought $250M to the table? $250M that's still on the table?

Can you please elaborate on that money, where did it come from and where is it now?


I stand corrected btw, Hellmund dreamt about the race for 20 years, not worked on it.

Here...read this:

http://www.austinpost.org/content/f1-me ... vs-fiction

The money has not been paid out, but it can be as soon as COTA has a USGP and applies to the METF for reimbursement.

[xpensive]

And where does it say that there is 250 MUSD for the taking thanks to Hellmund?