+1. The local area cannot make this work. Im no hater but F1 and the US have tenuous history at best. This is not survivable in the long term. The odds are against it. Im hoping the purpose built facility will be the key to its long term success. Yet so much seems unsure and the group leading this are not doing much to counter a very negative impression surrounding this venture. More to follow Im sure. I wont plan for Austin until the 2nd year they actually run a race there. Too many others near me in Germany to bother.
Would you cut it with the "hater" stuff? There are a lot of people here who'd like nothing better than to see a USGP but have serious and legitimate concerns.
don't rub it in I've been now 4 times to the Canadian GP, which is great but it gets old eventually. I hated Interlagos so Europe is the next best thing. 9 hours of flying away It pains me to think back on Indy where we lost the race over a gap of just 6 million. Sounds like pocket change compared to the dreamers in Austin...
Its good(Europe), but the cost is stratospheric compared to Indy. Yes the track was not so great but the facility and access were fantastic(Indy). History for the circuit as well. Indy was fun for me and I would be happy to see it again. I hope something works out in Austin. The track looks great and Im sure the city is fun.
True, but no F1 ticket price compares to what it costs to haul the family across the pond and into Euro hotels for a couple of weeks. And don't get me started on the weak dollar. I'm reading all the bad news stories about the defaulting Euro countries, yet the darn Euro is stronger than ever compared to our lousy currency.
They're trying to get the local municipality to 'sponsor' it right now. Part of that process is getting them to commit $4MM of local money to the State's 25MM. I don't see of an issue of a generous developer donating the exact amount needed, so it doesn't affect the local budget. 625% ROI doesn't sound bad.... The real concern will be meeting the amount of tax revenues needed to be generated by the project If you're bored...... http://www.statutes.legis.state.tx.us/Docs/CV/htm/CV.83.10.htm#5190.14 Also, lots of new pics.....I'd repost them, but its from a commercial site, and not just facebook..... http://www.gpupdate.net/en/f1-photos/6698//178656/#178676 Anybody know what all the pieces of rock and wire mesh stuff in this one is far? http://www.gpupdate.net/en/f1-photos/6698//178656/#178674
Generous and 525% (if you do the math correctly ...) ROI don't belong in the same sentence. And that's exactly my point as to why it is a scam and should not be allowed. The local municipality should pony up the $$$ per the METF guidelines, or they should not qualify for 5.25X matching funds.
The ratio is 6.25 to 1. I didn't want to be rude and point it out. Think it has something to do with the state sales tax rate being 6.25% and then local cities and counties being able to add onto it. Don't know for sure about how the ratio comes up, but I think its a good guess I think they are following the guidelines. I'm sure they have their bases covered. You check out those pics in the link? there's 60 or so of them, but some of them are pretty neat Oh and your thread is now the biggest and the most popular one in F1 section ever. U must be proud
$25MM / 6.25 = 4MM Thats where the 4MM they are mentioning having to get from the developer or 'sponsoring municipality' in order to get the 25MM from the state.
That's not how ROI is calculated. As I said, if you do the math correctly... FYI ROI is $4M investment nets $21M Return ... 21/4 = 5.25 or 525% But if you ever have any capital gains to pay, I am sure the IRS will be quite pleased if you do it your way.
Any word on where the State is falling on this? It seems there is a shaky governor there weighing a presidential run who's method for solving complictated problems is calling for state days of "prayer and fasting". BHW
The 21MM dollar you are coming up with is in error. They're gettin 25MM from the State. If they didn't put up the local monies, they'd be getting $29MM of gov't subsidies.......... http://www.statutes.legis.state.tx.us/Docs/CV/htm/CV.83.10.htm#5190.14 Perry and Combs first talked to Bernie back in 2008
Meanwhile, consider this: if the race were taking place today, one week after Montreal, as it currently sits on the schedule for next year. If we assume that the race would probably start at 1 PM local time, here are the current temperature forecasts for this afternoon: 1 PM = 98 degrees 2 PM = 101 degrees 3 PM = 103 degrees I don't care if it's "dry heat". If they hold the race in June, no matter how much I'd want to go otherwise, I'm not coming!
Fixed it for you..... Incidentally, Texas doesn't have the arcane liquor laws that we had in Indy, right?.... Cheers, Ian
Just saw some new pics of the track, definitely progress going on, even if they haven't erected buildings yet. Image Unavailable, Please Login
Thats the one I was asking about earlier. Think the rocks and wire mesh are for drainage or something?? Guess the race is going to have to be past noon on Sunday, then......
Uh-oh!..... The Q; Will I be able to buy a beer either in my hotel and/or a nearby bar on Sunday evening? I think I could deal with the heat, but an inability to get a beer would really suck Cheers, Ian
Restaurants sell alcohol after noon on Sunday. Liquor stores are closed all day on Sunday. I think you can buy beer on Sunday
Looks like an important week coming up for CotA. Hope it all works out and they may get on with finishing construction. They definately need to change the date though. June in central Texas dosent seem very appetizing as I photograped a WSC race at Texas World Speedway in College Station in September of 1995 and came away with one of the worst sunburns ever. BHW
Thanks. Will be interesting to see how this transpires... Is the vote still scheduled for 6/23? Does Perry have to sign off on this? Seems to me this may not be a great headline for someone considering a presidential bid...
