Wtf? I thought they already had funding? Now UBS is trying to raise $100m??? UBS in drive for $100m New York grand prix - Telegraph
I'm actually fine with that. Still plenty of riff-raff at the races. $ 560 is not an unusual price. That is actually worrying. And I'm surprised that UBS got that assignment/deal. Their CEO Gruebel, who loves F1 and was the driving force behind the UBS sponsorship of F1, has meanwhile long left the bank. So they must be doing this for profit and not out of interest. Not a good development.
Imagine that ... the funding is NOT in place, and they need AT LEAST $100 million to finish the project The project has never been able to attract investors and/or lenders ... because the business plan for a street race, with zero taxpayer support, is just not attractive (even with full attendance, year after year). The yearly costs are HUGE, there's no government money to help, and there's no tangible asset to "attach" (it seems that Hindery & company doesn't even own or control the real estate around the track). We'll soon see how much Bernie really "wants" this race .... or, more accurately, how much his wallet really wants this race I'll become a believer when I see the asphalt work underway ...
I hate to say it, but I can't imagine that track area not needing to be repaved every year. Between the heavy traffic and the winters ....ugh
It's a good point ... but Tilke will no doubt spend lots of time and money, up front, to make sure it's not necessary. They consider the design and engineering to be a "failure", if maintenance is needed within five years of completion. But either way, it's EXPENSIVE ... lots of time & money up front, or recurring costs year after year
Maybe Bernie really IS willing to reduce his sanctioning fee (to near zero) for 15 years ... hell, maybe he's even wiling to back the bonds. If Bernie's wallet really wants this race, it can still happen ... but that asphalt work needs to start soon ... tic toc But he'll be leaving a LOT of money on the table, money he can readily get from any number of other new venues. Not what i'd expect from Bernie, but who knows ?? I'm certainly not investing or loaning, that's fer sure
It just occurred to me that we still have not seen the 2014 provisional calendar. Normally by mid June that is being floated around along with a few asterisks attached to some races. That hasn't happened and it worries me for the NY GP: We already know that the scheduled date clashes with Golf for NBC, so right there is a problem. It could be solved if some races would move around, like the ones following NY (Silverstone) but I doubt there is too much wiggle room and willingness to shift things. My take is that Bernie is holding his breath until he knows more about the NY funding situation. Once it is clear, that it is not going anywhere, he'll release a calendar with that race squeezed in so tightly, that in reality it couldn't happen (e.g. a week after Monaco or some nonsense). Of course there is a chance NY is safe and the prolonged waiting has more to do with the fact that Bernie's wish list of GPs is longer than what the teams want. And/or some other track in question like Sochi. to be continued
Talked to some contacts and I'm not feeling very positive about NY 2014. In more positive news: I finally found a first draft of next year's calendar. So I made another hotel reservation in Milan. Just to be on the safe side.
Sadly, I finally agree on NJ, but in light of India being axed there might be a chance??? So, NJ was 20 this year. Status quo 2014 was as we see it + Socchi and now Austria? (correct me if I am wrong) Having read other threads I think all 3 are now a gamble based on their own reasons. Also, the FIA mandate about Lemans weekend conflict is crap because I was in Montreal in 2010 watching F1 quali and world cup and Lemans...All the same weekend. So if Bernie really wanted the back to back is still in play. Also, if NBC were smart they'd gamble....Golf on TV??? Sorry, just not a golf on TV person. NJ - Funding end of story??? Dicey Socchi - Funding...oh wait Sauber.. Probably a done deal Austria - Bernie's personal alternative to Germany if locked up or the greenies get it axed. Not in the news and I haven't posted in a while: I drove home last week to surveyors out on River Rd. the entire stretch! I quickly parked and spoke to the gents roadside. They were, as I thought; a road crew prepping to resurface the track. Had a quick 15 min convo, but upon me running up they smirked. I simply asked F1? and I received a nod. They said,"to be completely honest I was the only person all day that was happy about F1." Why? the race, the noise...no most were just upset they could not park in their normal spot and everyone wanted to know how long they had to park elsewhere. They also mentioned that River Rd. would be "ok", but that the "crowning" on Blvd East had to be removed and that all metal(grates/manholes) would be reset. He seemed not thrilled, but the look on his face seemed like he liked the challenge. They also mentioned a hotel would be going in next to the Ferry complex as well along with the condos currently going up. I did find this link that is from earlier this month, not sure if it is legit, but it does show another view from cliff height and an updated track map to the former that was released by jalopnik/autoblog/gpupdate. AutoRacing1.com - Other Racing News and Car Test Page I think if they can pull this off, many people will be surprised. IT IS NOT "NJ"!!! It is literally about to fall into the hudson. They should just name it the Hudson Ring, Palisades GP, anything that beckons back to an era past. I drive these roads daily and it really could be a great opportunity as a new F1 track. Cheers, B
