USGP is back in Austin, TX (merged)

Been a long time since Bernie has shown an interest in anything but money. Although the US is a huge market when it comes to F1 the profits just aren't there.

 

Ouch!

 

I'm not sure how much leverage FOTA has at this point. Its certainly less than it was last year. By 2012 it will be even less. If your scenario is true BCE need only stall. Which is what he seems to have been doing to good effect.

 

A US F-1 race in 2012?

I guess USF1 has a new "launch" date target!

 

FOTA would have been smart (and experienced enough - with Bernie) to get it in writing as part of their agreement to re-sign with FOM. I have no doubt about that.

 

+1

And I don't think Bernie would *ever* commit to something like "there's gonna be a GP in the States by 2012" - He'll use "best efforts", and "try and compromise", but I think FOTA are SOL on this one.

Cheers,
Ian

 

We beg to differ on that one Mike.

Further, back when the great split debate was ongoing, FOTA's "power" was Ferrari, Renault, BMW, Toyota and Honda - 60% of whom no longer participate.....

Cheers,
Ian

 

Paper?
That's what lawyers are for
Seriously, in sports contracts tend to be renegotiated regularly when the interests of the parties involved change.
Besides at Bernie's age he may not be planning as far out as 2012

 

The old saying "if it's too good to be true, it probably is" may apply here. I live in Austin and as a follower of F1 since I was a kid living in Africa, I hope this idea comes to full fruition. As many have said the biggest question is - where is the money coming from? I don't think Bernie would have gone as far as to announce this unless some sort of financing was already in place. I suspect at this point that he may be the "money man".

As for location they are talking 15 mile radius from the airport so south east of Austin seems to be likely. We will see.

Mike,
Austin TX.
1979 Merak.

 

As a European who has never been to Austin, or Texas for that matter, but has been to almost every race on the current calender, and many many others that are no longer, including Indy, my first reaction question was, "Why host an F1 race there?".


Is it a case of Bernie finding some local oil industry backing?

 

This info is interesting:

Hellmund (39) has been a moderately successful driver in various local NASCAR series. He is the son of Tavo Hellmund, the promoter of the original CART races in Mexico City in the early 1980s. He raced in British Formula Ford and other European open wheel feeder series in the early 1990s (often in cars sponsored by Central TX auto dealers.

Texas Governor Rick Perry has given his support for the idea.

“Texas’s relatively strong economy continues to draw both national and international attention and I commend Comptroller Combs for her work in bringing this exciting event to the Lone Star State,” he said.

City of Austin Mayor Lee Leffingwell said that: “The City of Austin will be proud to host this magnificent event and I look forward to welcoming the participants and fans of Formula 1 to our City.”

 

I would say more of a Hi-Tech backing from the locale.

 

Here's the pitch:

"So we sell naming rights to the track, naming rights to the F1 race, we get other races, NASCAR, ALMS and sell naming rights to those races, we sell luxury boxes, we sell condos and townhouses overlooking the track, we sell memberships in the track country club, we sell limited partnership interests in the company owning the track, we sell limited partnership interests in the company owning the land on which we build the track, we rent the track out to the government, car clubs and other sanctioning bodies, we rent the facility out for concerts and the state fair, we'll sell some revenue bonds, we'll get a Texas bank as lead lender on the construction loan, we'll sell advertising opportunities at every event AND we'll sell $7 Cokes and $30 tee shirts. That's $400 million right there."

 

If its that easy I'm amazed that no one else ever did it.

 

So if Bernie doesn't care about a USGP because he isn't obligated to have one, then why is he pulling this many tricks to make it happen?

I think you underestimate Luca and the rest of FOTA. I don't think it matters that some are gone now - what matters is what was agreed to at the time. They were all set to leave F1... it was a serious threat. Bernie had to compromise. FOTA got rid of Max... how could that happen if they were not in a power position?

I have no doubt that Bernie committed in writing to a USGP by some date. There is no way in hell that Howett, Flavio, Mozzarella, Dennis and Williams are dumb enough to commit real money over the next decade on a "I will try" flimsy promise - not with Bernie - no way, never. Luca is every bit Bernie's equal or better in the negotiation department.

 

Bernie is trying really hard.

New Jersey GP with a track layout, talks with officials and lots of press... then Monticello. Now Austin. He's working is really hard.

He doesn't care enough about a USGP to have kept it here a few years ago.

So what changed?

FOTA/FOM war. Nothing else changed. He didn't work 1/10th this hard to try to keep a USGP as he is working now to bring it back.

I wouldn't say he is desperate yet, but he is committed on one side, obviously. He's working the other side harder than the proverbial one armed wallpaper hanger.

The FOTA teams commitment to FOM is crucial. FOM exists due to that commitment. And I would wager that commitment exists with the proviso that there be a USGP by XXXX (where IMO XXXX is 2012).

Bernie doesn't work this hard for fun He already has Korea, India, Russia and other places lined up - and willing to pay his highest asking price. He isn't working the US deal this hard for fun. He's got a hard deliverable to fulfill.

 

He's pulling tricks, he hasn't made it happen...

 

AWESOME news!!! Austin Texas, here we come...

On an A.D.D note, I am a minority owner in a few pieces of land in New Braunfels, TX......................

 

Exactly. That's a lotta tricks for a race he has demonstrated that he doesn't care about and isn't obligated to provide.

 

Good thought, but he would make more if he just went to IMS with reasonable terms, but then again, if he did that might show the emperor has no clothes. As it often is with these games things are more about ego than anything else... Maybe Bernie wants to show IMS that they should have kissed his ring and paid for the honor of holding the race at their track... If he gave a good deal to IMS he would have to give a break to the British GP, or Italy.. He would be on a slippery slope if he loses his bargining advantage....

 

You could be right, but I honestly don't think so.....

Taking this one step further, he goes back to FOTA and says, "sorry guys, IMS told me to get lost, but you saw how hard I tried in Austin etc, sorry", what are they gonna do? Start another breakaway? He still holds the majority of the cards, and we know FOTA want to stay in the "FIA world championship".

I dunno, but this one just "feels" like it *could* happen - Texas does have more $ than God after all.

Cheers,
Ian

 

I get your logic and in that I can't come up with any other explanation for Bernie's actions its tough to refute your position. But knowing him I just don't feel it likely.
Or it may be that I'm just so sick of being di*ked around by F1 and being taken for granted that I won't give any of them the benefit of the doubt.
In any case there seems to be little substance to the Texas deal at this point save wishin' and hopein'

 

+1

However, it appears he has the politicos onboard this time - OK, we know they're all liars and cheats, but there's some big dicks saying they're gonna make it happen......

And *if* Bernie's balls are on the line as Mike suggests maybe he is funding part of it? - Not even the evil pygmy could buy NYC, but them-thar good ol' boys in Texas, who knows?

Cheers
Ian

 

Logistics, facilities, proximity to suitable airports, market potential and, yes, money.

Austin put together the package. I hope it works out because I'll be there in a heartbeat. Any excuse to visit that gem of a city is fine by me!

 

A bunch of glad-handers who have never picked up a check between the lot of them?
Politicians spend O.P.M. and there ain't much of that floating around these days.
Show me the money and I'll believe because without it Bernie, FOM and FOTA aren't coming to town.