einTier
25+ posts
09/24/11 03:46 PM
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Just wanted to let everyone know there's an F1 watch party down at Six Lounge in the Warehouse District at 1:30 on Sunday.
Rumor on the street says that Red Bull will be hosting so that they can celebrate Vettel's clinching of the championship tomorrow. There's only a few ways that race can finish that would end with him not clinching it. I highly encourage anyone interested in F1 to attend.
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Dewbrewer
500+ posts
10/25/11 09:18 AM
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Formula One to race in New Jersey in 2013? So what does this mean for Austin in 2013? Was there a 10 year contract?
LINK
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ViperHorn
2500+ posts
10/25/11 09:56 AM
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Dewbrewer, the New Jersey race will be a second race in the US. As soon as they officially announce the race we should know the name.
As long as the people involved with the USGP in Austin live up to their obligations, the United States Grand Prix will remain in Austin for at least 10 years.
When you are dissatisfied and would like to go back to your youth - Think of Algebra.
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Dewbrewer
500+ posts
10/25/11 02:05 PM
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Thanks Viper! Wow, good news.
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RoughedUpSuspect
250+ posts
11/04/11 04:40 PM
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Last week, Autoweek had an article that was very skeptical of progress at COTA. There are rumors of a promoter change that might put the State funding in jeopardy, plus problems with delayed releases of capital. Is it possible this doesn't get done?
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ViperHorn
2500+ posts
11/04/11 08:27 PM
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RoughedUp, everyone will need to get used to F1. Every new race isn't going to happen until it happens. It is a very tough media who will be super critical of everything until they are proven wrong.
Yes there have been self-inflected problems and the State money never should have been taken, but as long as the construction remains more or less on pace, everything should be ok. The international media will have a field day (think of the worse press you have ever read about an event and triple that) with the traffic and lack of a people movement plan for the first couple of years, but once a traffic plan is in place with road improvements, that will all go away.
Never say never, but with permanent structures coming out of the ground with track work continuing it is hard to see how the race will not go forward.
When you are dissatisfied and would like to go back to your youth - Think of Algebra.
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giveemhell
1000+ posts
11/13/11 09:39 AM
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Recent news and quotes from Ecclestone continue to cast doubt on this project. It's almost as if he's trying to sabotage his own race. I don't get it.
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ViperHorn
2500+ posts
11/13/11 10:01 AM
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In reply to:
It's almost as if he's trying to sabotage his own race.
The only thing Bernie sabotages is one race in favor of a higher paying race. This is all about FTP's lack of preparation and COTA's want to do the race right - which means displacing FTP. The issue is FTP is Bernie's chosen child.
The only way the race would be canceled is for FTP to walk away without transferring the rights to COTA. Sounds simple, but such a transfer will have to be accompanied with a big payment to Bernie. Remember, racing in the US is the teams' idea. Bernie could care less as he can get more money from some foreign government to stage a race in their country. Now that there is a race in the "civilized" part of the US, Bernie can play hardball with COTA.
When you are dissatisfied and would like to go back to your youth - Think of Algebra.
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l00p
25,000+ posts
11/13/11 10:16 AM
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Bernie is, has always been and will always be a [censored]. Even if we get this race and it happens, he is a [censored]. F that guy.
Is that fair?
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ViperHorn
2500+ posts
11/13/11 10:51 AM
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loop +1
When you are dissatisfied and would like to go back to your youth - Think of Algebra.
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giveemhell
1000+ posts
11/15/11 01:48 PM
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The news gets worse by the day. This could be the death knell: No state funds for F1 in advance of the race
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giveemhell
1000+ posts
11/15/11 02:09 PM
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Wow, the news is coming fast and furious now: Developers halt construction at Circuit of the Americas
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ViperHorn
2500+ posts
11/15/11 02:57 PM
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FTP/COTA should have never sought public finds in the first place, so once the pissing contest ends, everything should be fine. If a resolution isn't reached soon, look for FOM and FTP to be hit with a criminal fraud charge plus a large civil suit.
When you are dissatisfied and would like to go back to your youth - Think of Algebra.
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accuratehorn
10,000+ posts
11/15/11 06:20 PM
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This is not good. Austin may be getting the shaft, and royally.
What are the odds the track survives this situation, and we actually host F1?
Knowledge is good
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ViperHorn
2500+ posts
11/15/11 06:36 PM
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It all depends on McCombs and Epstein. If they decide to buy their way out, the track will be finished and the race will be held. On the other hand, if they let their ego's get the best of them and decide to teach FTP and FOM a lesson, they will find satisfaction, but no track and no race.
When you are dissatisfied and would like to go back to your youth - Think of Algebra.
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giveemhell
1000+ posts
11/15/11 09:56 PM
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I think people may be underestimating the new constraints Susan Combs seems to be putting on this deal. From her statement:
In reply to:
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.
For the investors to now have to raise an additional $25 million up-front is a dramatically different proposition as compared to the previous deal. And if you parse her words, it makes it sound like the money would only be paid after the applicants can prove that the event actually produced enough incremental tax revenue to justify the state's grant. In other words, it becomes a judgement call by the comptroller's office, which can only create more uncertainty for investors. Would you invest in this venture with that kind of uncertainty?
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ViperHorn
2500+ posts
11/16/11 06:48 AM
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In reply to:
For the investors to now have to raise an additional $25 million up-front is a dramatically different proposition as compared to the previous deal.
For you and me yes. For the individual investors in the track, no. They never should have counted or accepted these funds as no sane person wants public money tied up in their project. This will allow the track to play tough with the public entities for the infrastructure work that has to be done.
When you are dissatisfied and would like to go back to your youth - Think of Algebra.
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accuratehorn
10,000+ posts
11/16/11 08:58 AM
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I suppose the $25 million would be discussed behind the scenes, but if the race were held I don't think there would be any doubt there would be a huge, easliy quantifiable economic benefit for the Austin area's businesses.
I see that it is wise to not pay the taxpayer dollarss in advance, but assuming the event actually occurs, it should be a sound economic investment for the state, one which returns more taxpayer dollars than the amount spent.
The accounting should be above board and well-publicized for the naysayers who don't want the state to aid this venture. Of course, if the whole thing falls apart, it will be a real bloodbath of lawsuits and bad press for F1.
Knowledge is good
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giveemhell
1000+ posts
11/16/11 04:00 PM
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Does this idiot ever shut up? Ecclestone says he's ready to cancel Austin's F1 race
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ViperHorn
2500+ posts
11/16/11 04:46 PM
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In reply to:
Does this idiot ever shut up?
Only when he gets what he wants (more money). Then only for about a day.
When you are dissatisfied and would like to go back to your youth - Think of Algebra.
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