US GP in Austin Discussion and Speculation... | Page 122 | FerrariChat

US GP in Austin Discussion and Speculation...

Discussion in 'F1' started by Simon^2, Jul 5, 2010.

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Now that Austin is on the official FIA calendar, will the race really happen?

  1. Yes, it will happen.

  2. No, no way for construction to finish.

Multiple votes are allowed.
Results are only viewable after voting.
  1. SRT Mike

    SRT Mike Two Time F1 World Champ

    Oct 31, 2003
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    I thought it was amusing that COTA put out a news blurb saying "we understand Bernie would like to move the race to 2013, we're Ok with that" as if it was Bernie's idea.

    When does the deadline that Bernie gave to COTA run out? Was it today?

    It's obvious even to those who were in staunch denial that the track was never going to be done for 2012, not for summer and not for November. And since they didn't have the money, it's going to be even more difficult for them to raise it for next year.


    Some people have said "they've already spent $100MM - no way are they going to just bail on this now". That's like saying "the penny stock I bought has dropped 50%, no way am I gonna sell it now". If I was an investor and was committed to $400MM, I'd damn well want to protect my remaining $300MM rather than pour it down the same black hole that I poured the first $100MM down.
     
  2. Simon^2

    Simon^2 F1 World Champ

    Oct 17, 2005
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    Deadline was Friday 11/25,... BE extended to Wed, 11/30.

    http://espn.go.com/racing/f1/story/_/id/7278433/formula-one-bernie-ecclestone-reiterates-deadline-doubts-austin-race
     
  3. brian.s

    brian.s F1 Rookie
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    Precisely! And please let's not hear about the other money events scheduled, does anyone really think that even over 10 years there could be any ROI from those events? No, the ROI comes from the inevitable tract housing surrounding the USF1 Toaster factory employing all those South American "fans".
     
  4. Simon^2

    Simon^2 F1 World Champ

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    This is 24 Kt gold.

    I love the part about Bernie signing COTA's contract with hefty non-performance penalties for entertainment value.

    http://www.autoweek.com/article/20111126/FREE/111129948

     
  5. DF1

    DF1 Three Time F1 World Champ

  6. tatcat

    tatcat F1 World Champ
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    today bernie said all they need is a pen and the money.
     
  7. Blue@Heart

    Blue@Heart F1 Rookie

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    The same things they've needed for oh, 4 months now? :rolleyes:


    I don't know why we're still watching this (myself included) as it's been dead since close to day one....
     
  8. SRT Mike

    SRT Mike Two Time F1 World Champ

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    Like was theorized before, Epstein is the idiot here.

    It looks to me like he got greedy and wanted to squeeze Tavo out, and is now paying the ultimate price for it. I take pleasure in that - I hate scheming jackasses who are so greedy for all the marbles that they still step on their own mother to get them.

    Epstein is probably a stubborn dope who is so used to being a big fish that he forgot that he's the little fish in this case. He appears to have drastically overestimated the value of what he brings to the table, and utterly failed to be cognizant of the odds his poker game carried.

    Bernie doesn't need Austin, and he really couldn't care less if Austin is on the calendar or not. Epstein is playing little league with the "we hope the voices of the fans will be heard" stuff. That is about 8 billion levels below the stuff Bernie cares about. Epstein should have been spending his time with Combs and/or her higher-ups, Bernie, and Tavo to straighten this out - not crafting hammed up press releases that attempt to place blame in Bernie's lap.

    Bernie said the Nazis knew how to get things done. Did Epstein think that painting him as a guy who isn't listening to the cries of Texas fans would work? Weak. Utterly weak.
     
  9. Simon^2

    Simon^2 F1 World Champ

    Oct 17, 2005
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    Exclusive: Bernie Ecclestone talks to Autoweek about Austin Grand Prix

    http://www.autoweek.com/article/20111128/F1/111129932#ixzz1f2mJbQN6http://www.autoweek.com/article/20111128/F1/111129932

     
  10. Blue@Heart

    Blue@Heart F1 Rookie

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  11. Ernie Beccelstone

    May 18, 2011
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    Ernesto Villarial
    Confirmed by BE himself...well played Mike, well played. (I liken this forum to a card game)

    http://adamcooperf1.com/2011/11/28/bernie-ecclestone-on-austin-qa-they-never-had-the-money/

    BE: "“I was disappointed insofar as he (Tavo) had what he thought were partners that could finance the business and wouldn’t let him down. Really, they let him down and they’re trying to steal from him, get him out of it, and do the whole thing themselves."
     
  12. of2worlds

    of2worlds F1 World Champ
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    These days the antics going on behind the scenes are more entertaining than the racing. No wonder Bernie still likes to hang in there and crack the whip...
    CH
     
  13. SRT Mike

    SRT Mike Two Time F1 World Champ

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    LOL, I just read the article on Autoweek, thinking I could post it for you guys and everyone already knows about it :)


    So it seems just to summarize where we are and what's happened...

    -Bernie gave Tavo a sweetheart deal, maybe due to friendship, maybe due (partly) to the state paying the fee and Bernie feeling comfortable with that

    -Epstein and McCombs get involved on the money end. At some point, they look @ Tavo and ask "what are you doing for us? Surely Bernie will deal direct! See ya, Tavo!"

    -They try to squeeze out Tavo by putting him in breach. Bernie cancels Tavo's contract and offers them a similar deal, but wants a LOC covering the whole shebang

    -The state money deal unravels when the idiocy of all this bickering over marbles becomes apparent.

    -Epstein can't afford the LOC for the full term. He wants to pay on a yearly basis before the race.


    Net/net - Epstein ruined the Austin GP. He made a grab for money and power and it blew up in his face. He got greedy.

    I doubt he even has the ability to give Bernie what he wants, even if he wanted to. I don't think he can afford it.

    All that's left is for the lawsuits to start flying. Epstein will sue FOM/Bernie, investors will sue Epstein, Epstein will sue McCombs when Red tries to sell or develop the land, the state will sic regulators on Epstein/COTA, etc.

    What won't happen is Epstein won't do what he should have done a few weeks ago - roll over like a beaten puppy and submit to his better. He's blown it. What a cretin.
     
  14. mousecatcher

    mousecatcher Formula 3

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    Doesn't matter that there's only a week, NJ has a substantially lower (as in order of magnitude) cost to host the race.
     
  15. mousecatcher

    mousecatcher Formula 3

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    The second race is a red herring. It is unrelated to the COTA issue. Bernie could care less about the allure of any given race. Even Silverstone, even Monaco aren't untouchable, as we've seen in the last couple of years. They all need F1 more than F1 needs them. Montreal probably thought they were safe being the only race on the North American continent, and perhaps the best race (certainly top 3) on the entire calendar, but they were wrong.

    Something happened somewhere to screw the first payment, which had been committed. Some obligation somewhere must not have been met, maybe even due to troubles between COTA and Hellmund. Then COTA made their first real mistake, which was to try and play hardball with Bernie. lol
     
  16. Ernie Beccelstone

    May 18, 2011
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    Ernesto Villarial
    One thing no one has mentioned is that when COTA went to the city of Austin, they didn't get the deal Tavo told them they would get: the city was to put up $4 million, and that would release the state $25 million.

    The deal COTA ended up with was COTA had to come up with $4 million to get the $25 million. I'm sure that left Epstein scratching his head... "why should I have to come up with $4 million so Tavo can get $25 million?" I bet that little glitch, that Tavo never counted on, started the ball rolling to where we are now.
     
  17. DF1

    DF1 Three Time F1 World Champ

    They never had the money to begin with.
     
  18. DF1

    DF1 Three Time F1 World Champ

    NJ not safe? Interesting opinion.
     
  19. glenv6

    glenv6 Formula 3

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  20. BigTex

    BigTex Seven Time F1 World Champ
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    No reason to rush in or anything.....:rolleyes:
     
  21. BBL

    BBL Formula Junior

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    I find this shocking. He already gave them an extension once, and the WMSC meeting is now only a week away. I did NOT think any more chances would be offered to Austin!
     
  22. glenv6

    glenv6 Formula 3

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    #3047 glenv6, Nov 30, 2011
    Last edited: Nov 30, 2011
    Not when there's this much fun to be had! :)

    Chances? These COTA guys are like a big ball of yarn to that Cheshire Cat... ;)
     
  23. DF1

    DF1 Three Time F1 World Champ

    #3048 DF1, Dec 1, 2011
    Last edited: Dec 1, 2011
    Its good image management from Bernie. He gets to look gracious as they flounder. If the lawsuits come later his defense is assured. Its all on the Austin crowd to see this done no matter. Win win for Bernie again!
     
  24. brian.s

    brian.s F1 Rookie
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    Absolutely! Game, set, match for Mr E no matter what.
     
  25. DF1

    DF1 Three Time F1 World Champ

    Slim says its a no brainer and probably why he wouldnt save Austin( his name mentioned in this thread earlier).

    Its not needed if this pans out. NY/NJ in the USA then this. 2 races in the US not required with this possibly.

    http://www.autosport.com/news/report.php/id/96601
     

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