Austin's F1 circuit.

[Bubbie]

How funny is it that India was able to pull a track together but Texas wasn't? Maybe they can outsource their Grand Prix to India?

[Hammer278]

How funny is it that India was able to pull a track together but Texas wasn't? Maybe they can outsource their Grand Prix to India?

Why is it funny?

[Bubbie]

Because one is supposedly a poor nation rife with corruption... and the other is India. Boom!!!! I'm on fire tonight. This stuff is gold Jerry. GOLD I tell ya! Come on, you had to love the outsourcing comment.

Actually, it is because India was being questioned about whether they could pull it off being so poor and with all the corruption... While Texas is one of the biggest economies in the most powerful country in the world. Texas alone has about the same Gross product as all of India (according to Wikipedia).

[Hammer278]

It might not look like it, but India is actually on a boom in their economy along with China....so amidst all the poor you see on the roads, they do have some serious resources to work with. I would say India's biggest issue is corruption and yeah, that was their biggest deterrent to running a successful GP.

Austin on the other hand, is in a country which has taken a huge nosedive in the economic standings with the financial sector practically bankrupt, and as nearly all human beings ultimately work for the banks...I don't see whats so surprising about their latest failure.

[andrew]

Sounds ominous. Little wonder MrE is saying it's cancelled. Looks like the race organisers have been given chance after chance and have failed to hold up their end of the deal. Having the New Jersey race on the back-burner has been a good move so that a US GP is still on the cards for 2013.

Ecclestone: Texas race likely to be dropped

[What's Burning?]

Build a fence around it then they'll be able to get the Texas government to support it.

[NocturnalTendencies]

Build a fence around it then they'll be able to get the Texas government to support it.

That or a trailer park. Texas...

[madbrad]

I don't see what is so wrong about the Texas government investing in this. It brings revenue into the state does it not? State and city governments routinely put up cash for stadiums for NHL, NFL, MLB etc because it's a boost to the economy. Shooting one's self in the foot seems appropot in a place with so many guns though. Which brings me to a question. Since the race will be in Texas, do the drivers carry guns for use in passing maneuvres??

[f1usa]

I don't see what is so wrong about the Texas government investing in this. It brings revenue into the state does it not? State and city governments routinely put up cash for stadiums for NHL, NFL, MLB etc because it's a boost to the economy. Shooting one's self in the foot seems appropot in a place with so many guns though. Which brings me to a question. Since the race will be in Texas, do the drivers carry guns for use in passing maneuvres??

Tavo Hellmand did negotiate with Austin City council for $25M for each Austin GP over a ten year period. But Tavo doesn't have a pot to Pi$$ in and needed investors to finance construction of the $250M Austin GP track. Construction at track stopped because Tavo Hellmand would not sign over rights of the yearly Austin $25M to the major share holders to pay the yearly FIA sanction fee. The share holders can not turn a profit having to spend $500M over a ten year period. If that doesn't make it clear, then you should have rode the long school bus.

[myownalias]

I don't see what is so wrong about the Texas government investing in this. It brings revenue into the state does it not? State and city governments routinely put up cash for stadiums for NHL, NFL, MLB etc because it's a boost to the economy. Shooting one's self in the foot seems appropot in a place with so many guns though. Which brings me to a question. Since the race will be in Texas, do the drivers carry guns for use in passing maneuvres??

Tavo Hellmand did negotiate with Austin City council for $25M for each Austin GP over a ten year period. But Tavo doesn't have a pot to Pi$$ in and needed investors to finance construction of the $250M Austin GP track. Construction at track stopped because Tavo Hellmand would not sign over rights of the yearly Austin $25M to the major share holders to pay the yearly FIA sanction fee. The share holders can not turn a profit having to spend $500M over a ten year period. If that doesn't make it clear, then you should have rode the long school bus.

My understanding based on what has been reported is that Tavo Hellmund failed to provide proof or hard cash to sanction the event, the local government then refused to pay the $25m until after the event after it was announced that a second grand prix would be taking place in 2013 in NJ, the local government don't see it as such a good investment with a second US GP; and they are probably right, I believe more people will attend the NJ/NY GP than the Austin GP, plus the fact that the mid-west is more into NASCAR than F1, I've been in Kansas for three years and yet to find a single F1 fan, but have met hundreds of NASCAR fans. It doesn't make sense for the local Austin government to support a loss making venture!

[Fred_C_Dobbs]

Tavo isn't convinced the deal is dead:

Tavo Hellmund n’abandonne pas

Tavo Hellmund, le promoteur du GP d’Austin, espère toujours que le GP d’Austin se déroule dès 2012, même s’il reconnaît que les organisateurs de l’épreuve ne sont pas parvenus à réunir les fonds nécessaires. « Nous devrions féliciter M. Ecclestone, il nous a envoyé de nombreuses requêtes et nous n’avons pas réussi à apporter une réponse satisfaisante. Le projet a avant tout besoin de répondre aux obligations financières de la F1. Il existe toutefois une solution. Si M. Ecclestone et la FOM apportent leur argent, il y aura un Grand Prix en novembre. »


Google linguistic butchery:

Tavo Hellmund, the promoter of GP Austin, still hopes that the GP is held in Austin in 2012, although it acknowledges that the organizers of the event failed to raise the necessary funds. "We should congratulate Mr. Ecclestone, we have sent numerous requests and we have failed to respond satisfactorily. The project was first necessary to meet the financial obligations of the F1. However, there is a solution. If Mr Ecclestone and FOM make their money, there will be a Grand Prix in November. "

[darwin dali]

Tavo isn't convinced the deal is dead:

Tavo Hellmund n’abandonne pas

Tavo Hellmund, le promoteur du GP d’Austin, espère toujours que le GP d’Austin se déroule dès 2012, même s’il reconnaît que les organisateurs de l’épreuve ne sont pas parvenus à réunir les fonds nécessaires. « Nous devrions féliciter M. Ecclestone, il nous a envoyé de nombreuses requêtes et nous n’avons pas réussi à apporter une réponse satisfaisante. Le projet a avant tout besoin de répondre aux obligations financières de la F1. Il existe toutefois une solution. Si M. Ecclestone et la FOM apportent leur argent, il y aura un Grand Prix en novembre. »


Google linguistic buthery:

Tavo Hellmund, the promoter of GP Austin, still hopes that the GP is held in Austin in 2012, although it acknowledges that the organizers of the event failed to raise the necessary funds. "We should congratulate Mr. Ecclestone, we have sent numerous requests and we have failed to respond satisfactorily. The project was first necessary to meet the financial obligations of the F1. However, there is a solution. If Mr Ecclestone and FOM make their money, there will be a Grand Prix in November. "

Not 'we have sent numerous requests' but he (BE) has sent them to us.

[myownalias]

Tavo isn't convinced the deal is dead:

Tavo Hellmund n’abandonne pas

Tavo Hellmund, the promoter of GP Austin, still hopes that the GP is held in Austin in 2012, although it acknowledges that the organizers of the event failed to raise the necessary funds. "We should congratulate Mr. Ecclestone, we have sent numerous requests and we have failed to respond satisfactorily. The project was first necessary to meet the financial obligations of the F1. However, there is a solution. If Mr Ecclestone and FOM make their money, there will be a Grand Prix in November. "

I'm confused by this statement, I thought Tavo's contract had been cancelled and FOM were now dealing with COTA, but COTA don't have the funds to pay the sanctioning fee as the local government refuse to pay the $25m up front given that there will be a second US Grand Prix in NJ, what's the truth? I have heard so many different contradictory stories, I don't know what to think!

[madbrad]

I don't see what is so wrong about the Texas government investing in this. It brings revenue into the state does it not? State and city governments routinely put up cash for stadiums for NHL, NFL, MLB etc because it's a boost to the economy. Shooting one's self in the foot seems appropot in a place with so many guns though. Which brings me to a question. Since the race will be in Texas, do the drivers carry guns for use in passing maneuvres??

Tavo Hellmand did negotiate with Austin City council for $25M for each Austin GP over a ten year period. But Tavo doesn't have a pot to Pi$$ in and needed investors to finance construction of the $250M Austin GP track. Construction at track stopped because Tavo Hellmand would not sign over rights of the yearly Austin $25M to the major share holders to pay the yearly FIA sanction fee. The share holders can not turn a profit having to spend $500M over a ten year period. If that doesn't make it clear, then you should have rode the long school bus.

Your post appears to have no relationship whatsoever to the post of mine which you have quoted.

[Matt_1222]

if Austin no longer happens, what Bernie has basically done is got austin to start building a track, then figured out he can have another street race in New Joyzee, decided he'd prefer that and told Austin not to bother anymore


<---Bernie