US GP in Austin Discussion and Speculation...

Until the DRS kicks in

 

lol

 

What track are you refering to as the most historic? Clearly it cannot be Indy as they are a nOOb in relation to F1. Also one *you* must realize the great historic tracks in the USA such as Road America and Watkins Glen did not submit to Bernie's whip ie astronomical cost to make them F1 worthy in his opinion yet they host Indycar and ALMS so wtf's up with that??

 

Road America and Watkins Glen were founded about 45 years after Indianapolis - neither is more historic than Indy.

You can quibble over the meaning of historic, but even someone who wanted to dispute Indy's claim would have to include them in the final running. But that doesn't really matter in this context. The bottom line is that Indy has infinitely more history and resources and success and brand recognition and - well, everything - than the "Circuit of the Americas". And if Indy couldn't make it work, despite not having to spend four hundred million bucks for a 10 year deal, there is no way Austin can make it work.

As I said, big money guys tend to be savvy with that money, and they recognize a turd of a deal when they see one.


...and so Austin sits, as D-Day approaches.

 

I guess I should have been more specific separating historic from F1?

 

The oval is more historic, not the makeshift infield course. Two vastly different things

 

"Run Forrest Run"!!!!

 

No:

Indy was hosting the USGP for ten years in the fifties. On the oval.

It wasn't their fault that barely any F1 teams bothered to show up. Kinda like 2005

 

Actually, Indy didn't host the "USGP" in the 50s. The Indy 500 was considered part of the World Championship and WC points were awarded. But since, as you say, pretty much none of the European teams showed up, whatever points were awarded to the usual cast of drivers that drove Indy every year but no other races that counted toward the World Championship, the points never affected the standings.

 

Well....dont

http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=aiatB8GnQDtU

 

One of the best reporting jobs in the mainstream press.

 

dont worry. next time someone rents a car in Austin, the bill will include an 10% "F1 Tax. "
This will be in addition to the 50% taxes already included!

This is the same BS as Stadium Finance. While Im totally against it there are Pros and Cons for using Taxpayer money.

 

$242M, the "Track cost" cited there, SRT Mike, a bit lower than the $400M you keep interjecting into the thread??

 

teachers, (teaching German??), services, and NURSING HOMES!

OMG!!!

*bursting into tears*

F1 racing in TEXAS means they are going to UNPLUG GRANDMA!!!!!!!

*runs screaming down the street*

Red's gonna KILL GRANDMA!!!!

What a mash up of facts, opinion and conjecture........and there's Dan Patrick again.

The next time I see him out around town it won't be pretty.......

 

We are getting a BRAND NEW stadium for Soccer here in Houston , while the 'Dome stands empty.....

It's hard to get "your cut" as a developer, on concrete that is already poured......LOL!

 

I know a couple of F1 fans who would consider that a fair bargain

 

*kicking Grandma......she's stiff*

 

Patrick had "no problem" making heavy investments in his date's 'assets" last time I saw him over on Kirby Drive.......

I love the way politicians throw things under the bus, when the cash gets 'tight".....

 

is the dome owned by the livestock/rodeo?

how's is the soccer stadium being funded and does Houston have a MLS team?
Havent lived there in a long time.

 

The $400MM was actually mentioned in the press conference back in April. so that's their own admission of what the costs are going to be.

Exactly!!!! Does anyone else get offended when politicans do things like that?? I mean, it's going to bring money into the state, not take money away. Raise taxes, or cut jobs. You can't have your cake and eat it too......

 

We have some vague County Sports Authority that owns the stadiums (they just went upside down and had to re-fi the payments on the new Reliant Stadium, next to the Dome against current cash flow, which what do you know? "Didn't meet projections")...

They lease out to the Rodeo and events (the Oilers, no wait....the Texans!)

This agency has a Taxation Authority to soak out of towners via a Hotel Tax of some sort....

The Dynamo is our footy kick ball team, and they are actually quite good.

You see the parallels to the discussion of the F1 Track, and the way taxation, exemptions, and incentives can be used for these deals, it's not a "new thought" at all....it's always the public that foots the bill for the developers and investors to make some $$$$.

Cooked books and crooks, nowhere but Texas!!!

I'll be drinking at Gruene Hall Saturday night, if anyone wants to meet up, that silver tongued Kelly Willis will be crooning the hits...

 

The "Texas Tomorrow" tuition plan is on track to loose BILLIONS for the State of Texas.....I have two contracts!!

There's some brght financial minds up on the Hill over there.......and they worry about a few million $$$, here or there......

 

Exactly. You think they would have greased the wheels up b4 getting this project rolling. Didn't realize the first year's Bernie fees come from the general revenue. Oh well, Susan Comb's already promised Bernie. Hope the check don't bounce

 

That's an old number - they haven't been keeping up with the news.

When it was announced, it was $240-some million. It has been revised up to $400 million:

http://mobile.mysa.com/mysa/db_41012/contentdetail.htm;jsessionid=5694036BAEFC06B40009B842F0E625DB?contentguid=e2AGcTri&detailindex=0&pn=1&ps=2&full=true

EDIT: Beaten to the punch by Ben

I am not sure if the $400mm number was arrived at through expansion of the scope of the project, or if it reflects the realities of the timeline they are (were) dealing with.

It certainly isn't going down with each passing day that puts them further (and further) behind schedule.

 

going to play devil's advocate for a minute....

Could be used as a way to raise funds.... i.e. 'costs are going up, our previously fully funded project, now needs $150MM more.'