http://www.motorsport.com/f1/news/insid ... -2012/?i=2
COTA/ State of Texas at odds over $18M payment to FOM? USGP under the ax?
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.
"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.
http://www.statesman.com/blogs/content/ ... _tavo.html
COTA seeks private arbitration in Hellmund lawsuit:
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.
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.”
COTA is considering off-site parking in Kyle, Texas (about 23 miles away):
http://www.bizjournals.com/austin/blog/ ... rking.html