Ferrari Mailing List: Re: Another work stoppage in Austin

[Erik Nielsen (judge4re]

Let's face it, there is not enough core interest in the USA in F1 to
justify the costs.


On 11/18/11, clyde romero <clyderomerof4 [at] bellsouth.net> wrote:
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> JUST THE RIGHT AMOUNT OF WRONG!
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> "SCARS ARE TATOOS WITH BETTER STORIES"
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> CLYDE
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> The return of the United States Grand Prix, scheduled for November of 2012
> in a new facility currently being built in Austin, Texas, has been cast into
> doubt as as work on the circuit has been halted.
>
> During the Abu Dhabi Grand Prix this past weekend F1 boss Bernie Ecclestone
> told reporters that the Austin race faces difficulties and he was unsure
> whether it will go ahead as planned. Ecclestone said, "We are trying. There
> are two parties. One has got a track and is building it, and the other has
> got the contract. And they forgot to talk to each other."
>
> In the ongoing saga, Tavo Hellmund's Full Throttle Productions, which owns
> the rights to hold the race, and Circuit of the Americas, who are building
> the track, are in a dispute as the hosting contract needs to be transferred
> to the circuit for the event to go ahead - but this has not occurred.
>
> A statement issued Tuesday night by the Circuit of the Americas said that
> work has been halted and will not resume until the contract is put in place.
>
> In the statement Bobby Epstein, one of the circuit's founders said, "We have
> spent tremendous resources preparing for the Formula 1 and MotoGP
> Championship races, but the failure to deliver race contracts gives us great
> concern."
>
> "I don't know why Formula One would want to kill this race. The money is in
> place; the project is on time. All COTA needs is for Formula One to convey
> the original contracts that were in place for a long time."
>
> Afterward, the Full Throttle company issued a statement saying, "After years
> of effort in getting F1 to Austin, Full Throttle Productions and city,
> county and state officials have done all we could. It is the responsibility
> of Circuit of the Americas to bring it across the finish line. For the sake
> of everyone, we are hopeful that they can reach an agreement with Formula
> 1."
>
> Texas Comptroller Susan Combs then announced a change in the plan to provide
> $25m per year in subsidies from the state's Major Events Trust Fund for 10
> year to the project, stating that the first payment to the organisers would
> not be made until after the first race has occurred - previously it was
> thought that the first installment was forthcoming.
>
> Combs said, "The State of Texas will not be paying any funds in advance of
> the event. Further, as is the case with all (Major Events Trust Fund)
> events, each application will be reviewed and analyzed for its likely
> economic impact, and only after the race occurs would any funds be
> disbursed."
>
> Combs also expressed concern over the recently announced GP in New Jersey,
> saying, "Additional races have the potential to reduce the number of
> attendees to a Texas race, thereby decreasing the economic impact."
>
> The current impasse threatens the race for 2012, as the circuit construction
> is already on a tight schedule after a slowdown in late August. If matters
> aren't resolved soon, it is thought that the FIA might be forced to drop the
> event when it confirms the 2012 F1 calendar at the next next World Motor
> Sport Council meeting scheduled for early December.
>
> Wholi
>
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