Austin Formula 1 groundbreaking date released... DECEMBER

Not at all dude! No flaming here.... Good for you!

I hope you're proven correct - I have my doubts, but we'll see..... [This is meant to be a commercial airport as well, but I dunno how that compares with cookie cutter housing (?)]

Cheers,
Ian

 

"That member you are referring to is David Moore of Moorespeed Race Engineering. He's a consultant on FChat and he has many connections in the racing & Ferrari communities. If he thinks it all looks legit, then I believe it. Things can fall through with any project so nothing is a done deal until it's completed."



He mentioned a "prospectus." [EDIT - it was another member, not Moore. Sorry.] I'd love to see it. Love projections - whatever it is, it's always a home run. And, why would they need a "prospectus" if they have all the money?

Not questioning David Moore, though nothing in the credentials you've mentioned suggests he has any ability at all to assess the likelihood of success or failure of a venture on this scale.

Hey, maybe it will work. So far, I'm completely unimpressed, it seems like small time promoter BS of the type I've seen many, many times. Of course, every once in a while, the BS turns out to be true!


Question - other than the contract with Bernie, what has Tavo actually done on the Austin GP project? Claims that the state government supports the race clearly are blown way out of proportion to the actual support announced.

 

Maybe I'm not used to operating on such a sophisticated level but I can't see why the parties involved are not as forthcoming as possible. Particularly following the USF1 debacle you'd think that they do whatever they could to establish their Bona-Fides.

 

I completely understand what you are saying. I'm disappointed also. I personally used to know Tavo but I haven't seen or spoken to him since 1996. I was very young back then but I do remember that he was very anal retentive & pretty private.

I have faith in Tavo, my city & my State. I try to stay out of these threads because it seems like a lot of Austin bashing. I just keep reminding myself that you guys are probably just jealous. Just joking of course.

 

CORRECTION - another member mentioned having seen a prospectus for this project, not David Moore. My mistake.

Have relatives living in Austin, they love it. Sounds great.

I'd just like to see Tavo show us something real, tangible. So far, I think we've just seen promoting.

 

Doesn't he *claim* to have bought "most" of the land? Have water & crapper permits in place? Have a track layout "almost done"? Have the "necessary" funding?....

I dunno, I wish 'em luck... [Although, *if* it does happen we're gonna need some *very* big hats for some inflated Texas heads ]

Cheers,
Ian

 

http://www.bizjournals.com/austin/stories/2010/07/19/daily35.html

http://en.espnf1.com/f1/motorsport/story/23704.html

Same area that I figured based upon the info I read.

 

Love the line about having F1 parties across the US to build interest. Wonder how many will show at 4:00 am?

 

So, the 'problem" is ONE land owner of a "small parcel down the street" wanting $70K/acre instead of $20K/acre and this is "greed" and a "deal breaker"?????

I have yet to hear much about Tavio that convinces me his balls are BIG enough to be a Texan.....much less an F1 empressario.

If you can't run with the Big Dogs stay up on the porch.......

The State of Texas grants "someone " MILLIONS in tax incentives and he thinks a few thousand/acre is "greed"....

Someone stick a sock in this Golden Racer Boy's mouth and hire a decent PR firm.

I can't wait for him to meet the kind of Contractors that will weight the risk/reward ratios of this type of project, and school him on "design defects, schedule excelleration, and construction claims". Tavio will be back to lapping an old Stock Car, and we'll be partying at the (Your Name Here) Raceway!!!!!

Jus' sayin......

 

I didn't read anything about any problems or deal breakers.

BTW, It's spelled Tavo, but maybe you are just doing that on purpose.

 

You obviously have not a clue of my background "before" I got into the racing business not to mention you don't know who I am on first name basis in the racing industry itself.

And... I never said any such thing. Get your facts straight.

All this arm chair quarterbacking and speculation reminds me of a bunch of bitter old ladies with nothing better to do than make crap up gossipping.

 

Whoa, chill man. What he said was 100% true. Read it again. WCH is saying that Big Tex's description of you offers no information re: your ability to judge the viability of the project, and it doesn't.

Here is what Tex said:

... and WCH's reply:

WCH is simply saying "What Big Tex told me means nothing". Nobody is slagging you off here, no need to get your hackles up.

 

"And... I never said any such thing. Get your facts straight."

Go back and read my last two posts. I immediately corrected them to indicate you were not the member who mentioned a prospectus. I even apologized! Get your facts straight.



"You obviously have not a clue of my background "before" I got into the racing business not to mention you don't know who I am on first name basis in the racing industry itself."

I am sure you are quite handsome, and wise, if a somewhat hasty reader.



Edit - still waiting to see something tangible.

 

I can read, and yes I am quite handsome and wise beyond my years ;-).... other not so handsome hasty readers did inform me about your post........frankly this whole thread is more gossip than fact with no real new relevant information......why I wasted time jumping in just prooves we are all sick and tired of waiting for "real" factual news.

BUT, while I'm sucked into this black hole......

Facts: I know no more than anyone else regarding this "project", as Todt puts it, although I have been in direct contact with the track group. I think they truly relish in the fact that no one except their select group know where they intend to scratch dirt. There has been plenty of press and individuals snooping around that's for sure and they have found nothing, nada, zilch just "An announcement is coming soon!". I had an individual come into my office 8am this past monday with 100's of photos of a location where a sh1tload of massive earthmoving equipment was operating the day before "Sunday".

Before I got into racing I was a partner in a Design/Build Engineering Mgt. firm and we managed projects for folks like United Technologies/Pratt Whitney, Maytag, JI Case, Mabeline, Mary Kay, Abbot Labs, etc., etc. bottom line I personally managed huge construction projects and we never moved earth on Sunday unless there was a serious crunch in our schedule with major penalty clause if we did not make a deadline/CO as the double or triple time pay for heavy equipment operators was just too much even with non-union subcontractors.

After the Monday morning visit, two other local contractors I know called me independent of each other that day and the following day claiming the same location. One even signed a 10 yr lease on an adjacent parcel I did some legwork as well as talked with the contractor myself and was not convinced any real tangible evidence of track construction at that site is underway. Conveniently if not coincidental it almost seems like a smoke screen for the true location. But I have not crossed it off my list.

I know of at least one "real" parcel that the group had been looking at (not near the Sunday location) as the owner of the property confirmed there is discussions but no deal, option or contract is in hand or at least there wasn't but maybe there is now.

The group seems intent on keeping the location as secret as long as they can possibly in order to buy up all of the land adjacent to their project and sell to outsiders at super inflated prices. That's one way to fund an F1 project, Bernie style. However, I think that may be backfiring as the price of land is already going up from speculation and I postulate they are short a deal due to rising asking prices along the 130 corridor.

It is interesting that I know people that have bought options or acquired leases on parcels of land spread out like a wagon wheel east/north/south from the airport. Vague, yes but that's what I can share that is more than gossip. There is quite a buzz regardless of where, when, if it happens....I truly hope it happens and even offered to bring real financing if needed in our discussions. I was told it was in hand.....sooooo would you turn that down if you did not have the resources???

Hasty Handsome All Knowing Wise Reader

 

I'd just like to add that by my 'new math', December is just a pinch over FOUR months away, not six. Between permitting and the myriad infrastructure details, that sounds about right.

That said, the funding still seems like a pretty big mystery. But Austin's got quite the pool of tech millionaires/billionaires so it wouldn't surprise me if that money's all packaged up.

 

I don't get the hostility on this thread, it is almost like you guys do not want an F1 event here. I would LOVE to have a F1 event here in central TX. I hope Mr. Moore is correct.

 

+1

It truly does seem there are a fair amount of people here hoping it will fail so they can say they were right. I fully support the effort and wish there was some way to help.

Mark

 

I too would love to see this work, and will certainly attend the race if it does. The problem, I suspect, is that Tavo comes off sounding more than a little like a jerk who's full of false bravado (but maybe that's inherent in the nature of a "promoter"). That, on top of the recent USF1 fiasco, doesn't seem to be inspiring too much confidence. Bottom line- folks are skeptical, but with some reason.

 

More than one cook spoils the stew......

Tavio is a major player.(per his comments)........and he's going to keep his backing 'confidential" (per his comments)....and he'll tell the unwashed fans details, when he's ready (per his comments)..

He obviously DID grow up at Bernie's knee!!!

Thanks David for your post, obviously I don't have anything other than the Public announcements, although my 'Old Austin' contacts do have faith in the named attorney.

I agree with your assessment, that maybe the public announcement might have been a little early and it's driving up the total cost of implementing his plan....he came blame 'Uncle' Bernie tho, for that leak....

And he does need to get a new mouthpiece. IMO.

Maybe a new Purchasing Agent, as well.....

 

It's not bragging if you can do it....

Let's review, he's done WHAT again, up 'till now???
You know, large scale projects, like David can list in his CV....

Still, race promotors are a vagabond lot, they hit town, set up the bleachers and tents, and the Monday after weekend all that's left is mountains of trash and left over promo items.
Anyone want a Texaco hat?????

It's like the circus, literally....

 

Rumor of a public announcement tomorrow morning. I'll report back after attending.

 

It will be interesting. IMO Tavo comes across as such an amateur on all fronts, but maybe he's just bad at PR. He also seems a bit thin skinned, if you read the statement carefully.

Let's hope experience "from the NFL and NBA" works better than experience from the bull riding tour.

http://www.autoweek.com/article/20100726/F1/100729877


I've come to realize that my skepticism about this project is only in part skepticism about Tavo's lack of experience and professionalism, but primarily arises from my inability to imagine any return commensurate with the risk. I would dearly love to see the projections on which Tavo's world class group is investing.



____________________


Tavo Hellmund is set to release details of the planned U.S. Grand Prix in a hastily arranged press conference in Austin, Texas, on Tuesday.

There has been much speculation about the intended track site, and the lack of information until now has led to some skepticism about the strength of the promoter’s plans.

“I think part of the problem is that because we are being very careful of releasing details--from the business perspective, not for any other reason--people are left asking [questions],” Hellmund told AutoWeek at last weekend's British Grand Prix. “When you actually have the deal done, it doesn’t bother you. I couldn't care less what people say, we’re getting the deal done.

“I think probably we’re going to release the land site, so everyone knows where it is. To stop the speculation, we’re going to need to do that. We’ll also introduce some of our key players from the communications side, from an investors’ side, so that the public, who seem to be so curious, understand this is really a world-class group that’s been put together with experience from the NFL and NBA.

“We’re going to release details about the actual layout of the track," Hellmund said. They haven't been able to do that until now, he said, "not because we didn’t want to but because FIA and FOM need to know the layout as well.”

 

What would you guys need to hear to be convinced?

 

"What would you guys need to hear to be convinced?"


Great question.

Tell me, realistically, where you are and how you're getting from here to there. Ideally, produce someone serious, who seems able to take a $250 million plus project from concept to completion. Tavo's telling me that the track is done and the money's in place and that it's all a done deal means nothing.

Track layout means little to me, I can sketch a track layout on a napkin, superimpose a track sketch onto an aerial photo. How about something ready to build?

Knowing the track's proposed location is helpful, but land without entitlements isn't worth much.

Having name investors - nice to have Bill Gates on your side, but how is Six Flags going for Bill?

I'd actually be very sympathetic to, and cheer on, an intelligent presentation.