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.
Right after the final FIA inspection, I assume.munudeges wrote:From where I sit this thread has a very similar feel to what USF1 had, and it will probably get deserted just as fast..........strad wrote:I can understand that. I'm still stinging from the USF1 or whatever Windsors bad joke was called.
...and then there's the mid-construction "topping-off" ceremony. I've heard of topping off with a tree. They've done that. Is a separate event like what's planned for the 12th typical?WhiteBlue wrote:Travis County Commissioner Sarah Eckhardt:This sounds like a familiar scheme to me. Trouble to meet it's financial obligation was the reason for breaking the company contract according to Hellmund's legal appeal.This looks like a very ambitious business proposal that is having trouble meeting its financial obligation. And so they are looking to the county to subsidize a portion of their startup costs.
Apr.10 (GMM) A respected F1 correspondent is expecting F1's 2012 calendar to shrink to eighteen races this year.
Livio Oricchio, who writes for Brazil's O Estado de S.Paulo, thinks the sport is now on the verge of cancelling next weekend's visit to Bahrain.
And he also thinks November's US grand prix, scheduled to take place at the brand new Circuit of the Americas in Austin, is in doubt.
So the championship that should have 20 races will most likely have only 18.
Livio Oricchio
"The construction has fallen way behind," said Oricchio, "and there are serious problems between the promoter and the Texas government.
"Each side is looking to the other on the obligation to pay the fee, estimated at $18 million, to FOM (Formula One Management).
"So the championship that should have 20 races will most likely have only 18," he concluded.
In March, racing promoter Tavo Hellmund filed a lawsuit against investors Bobby Epstein and Red McCombs and other individuals and companies linked to Circuit of the Americas, the $300 million racetrack in southeastern Travis County scheduled to host a Formula One Grand Prix in November.
The courts are now deciding what — if any — portion of that dispute will be made public.
In addition to damages, Hellmund is seeking to examine the company’s books and records.
Previous story: F1 promoter sues other race investors
In late March, at the request of the defendants, certain court records were temporarily sealed pending a public hearing on that matter, which is scheduled for 2 p.m. May 8 at the state district court in Travis County.
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According to Eric Wetzel, a spokesman for Hellmund’s legal team, “Bobby Epstein wants this matter sent to arbitration, which is a closed-to-the-public, confidential resolution process. Mr. Hellmund wants this case tried to a Travis County jury. So far, we are winning that battle.”
“When I learned about the chance to bring F1 to Texas through a facility like Circuit of the Americas, I couldn’t wait to be involved,” said DeJoria, who fell in love with Formula One while attending a 1995 race in Monaco.
DeJoria said he was also drawn to the investment because it promotes all forms of racing, year-round family friendly entertainment and multi-purpose community uses.
“Like most new initiatives, we had a lot more questions than answers,” county Judge Sam Biscoe told the American-Statesman today.
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“It appears they don’t have the cash flow to prepare the site for the event,” Precinct 2 commissioner Sarah Eckhardt said. “I don’t think a private venture’s cash flow problems are a good policy decision to base this on.”
Biscoe would not say exactly how much race organizers are asking for, but said they are “requesting as much funding as they can get.”
Biscoe likened the construction of the circuit to a large development. Developers typically pay for at least part of the development of roads around their site, he said.
It is not going to take as much time as some people here suggested. Also interesting that Epstein lost the first round by not being able to escape public scrutiny by taking it to arbitration.In late March, at the request of the defendants, certain court records were temporarily sealed pending a public hearing on that matter, which is scheduled for 2 p.m. May 8 at the state district court in Travis County.... According to Eric Wetzel, a spokesman for Hellmund’s legal team, “Bobby Epstein wants this matter sent to arbitration, which is a closed-to-the-public, confidential resolution process. Mr. Hellmund wants this case tried to a Travis County jury. So far, we are winning that battle.”
