Friday deadline:
United States Grand Prix organisers in Austin, Texas have until the end
of this week to save their 2012 race, or face postponement until 2013.
The race organisers have admitted to falling down repeatedly on the
financial obligations of their contract with Formula One, but F1
Supremo, Bernie Ecclestone is giving them until this week to get
everything in order.
The $25m race-hosting fee was originally due to be paid by July 31st by
the Texas state from its major events trust fund, but when the race was
pushed back on the 2012 calendar due to construction delays at the
track, the fee was never paid. With the original contract between race
promoters Full Throttle Productions and F1 having been torn up,
Ecclestone is now seeking for a new contract with the track itself, the
Circuit of the Americas, to be finalised this week.
“It's all very simple – they don't have the money,” Ecclestone
told Associated Press on Thursday. “We don't have a contract. If they
want to come back to us, if it's not signed before the end of next week,
I suppose it won't be on the calendar next year.”
Tavo Hellmund, head of Full Throttle Productions, admitted at a press
conference on Thursday that money was the only factor stopping the race
from going ahead next year.
“We have failed many times over to fulfill our financial obligations
to Formula One,” Hellmund told reporters. “Right now we should be
paying Mr. Ecclestone.
“Somebody needs to jump on a plane and go make him happy.”
A statement from the Circuit of the Americas (COTA) last Thursday
suggested the track was happy to forego a slot on the 2012 calendar and
focus instead on getting the track ready in time for a 2013 race when
the United States is scheduled to have two races on the calendar –
with a race in New Jersey as well as Austin.
“We have been excited for and working towards a 2012 USGP race and
now understand that Mr. Ecclestone is interested in moving the Austin
race to 2013,” said Steve Sexton, president of COTA. “We know the
U.S. market is important to the teams and their sponsors and 2013
certainly allows time for the Circuit of The Americas to be ready.”
Construction at COTA has ceased since last Tuesday, with the circuit
insisting that construction will only resume when a race-hosting
contract with Ecclestone is finalised. However with the project
underfunded by as much as $100m and the Texas state no longer willing to
fork out $25m to cover the race hosting fee, the financial difficulties
of the project are unlikely to vanish in the near future.
Clyde Romero
just the right amount of wrong!
"SCARS ARE TATTOOS WITH BETTER STORIES"
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