No More Formula 1 in Austin?

[jatx]

Just read this article:

Update: Austin Formula 1 falls apart: Construction stops, the U.S. Grand Prix withdraws their application and Texas withdraws financial support - 2011-Nov-15 - CultureMap Austin

[zygotesoup]

Read that yesterday. I'm hoping it's just a speed bump and not a nail in the coffin.

[dwkoski]

Boy, what a SURPRISE (NOT!!!!)....Dave

[JLSELISE]

Wonder when the new housing development on the site will be announced?

[zygotesoup]

Still on the official calendar at least... for now.

[Westrock]

Ahh come on, at this point Rick Perry doesn't have a chance in hell of winning the presidency....so why cut back on the questionable stuff now??

[West-of-Hethel]

Ecclestone announced today that there will be no F1 races in the US next year.

Is anyone really surprised? This project was BS from the beginning.

[jatx]

Here's a little more info on Ecclestone's decision:

Austin's Formula 1 running on fumes: F1 boss Bernie Ecclestone cancels the contract - 2011-Nov-16 - CultureMap Austin

[Lotus Plano]

Definitely unfortunate. I sure had my hopes up for an event next year. Bernie seems to not be that thrilled about having an event the states anyhow and there were certainly some red flags with this one from the get go...

[fitfan]

Originally Posted by Lotus Plano

Definitely unfortunate. I sure had my hopes up for an event next year. Bernie seems to not be that thrilled about having an event the states anyhow and there were certainly some red flags with this one from the get go...

the troll want his money, he wants it up front with no contingency, and he wants it in a multi-year contract... its pretty simple. and has nothing to do with geo.

[paulhastings]

Seems like F1 negotiations as usual!

Let's see what happens.

[West-of-Hethel]

Originally Posted by paulhastings

Seems like F1 negotiations as usual!

Let's see what happens.

Ha! That's true enough. It's not quite like any other business, is it?

[fastfred]

Circuit of the Americas put out a Press Release yesterday talking about 2013. However, Bernie and F1 cancelled the original contract due to breach, so it appears that unless the investment community ponies up $25M in the next few days, there is no race next year, so 2013 is the best we can hope for on F1 in Austin. Pretty sad.

[Ukhtar]

They really should do a F1 race in Times Square...imagine that

[407Driver]

Eccelstone keeps Austin on 2012 schedule and for next ten years!!! Goen to the races.!!!!

[cyclingdude723]

Originally Posted by 407Driver

Eccelstone keeps Austin on 2012 schedule and for next ten years!!! Goen to the races.!!!!

Any link to that? I haven't seen that anywhere. But if this is true I can't wait!


Sent from my Autoguide iPhone app

[Quicker]

11th hour last night - deal struck - of course..

The official word as of this morning:


FOR IMMEDIATE RELEASE
December 7, 2011
Formula 1™ and Circuit of The Americas™ Ready to Roll
10-Year Race Contract
Brings F1™ Back to the U.S. in 2012; Construction to Resume
Immediately
AUSTIN, Texas – December 7, 2011 – Circuit of The Americas announced today they have
reached an agreement with Formula One Management that ensures the Formula 1 United
States Grand Prix remains on the FIA Formula 1 World Championship race calendar.
Red McCombs, chairman of McCombs Enterprises and founding partner of Circuit of The
Americas stated, “Mr. Ecclestone received his check today. We want to thank the fans
supporting us, the local officials and businesses that have encouraged us, the State of Texas,
Circuit of The Americas’ staff and Bernie himself. I want to thank and commend Bobby Epstein
for getting us across the finish line. Bobby’s perseverance and leadership kept the project on
track despite unfair and unfounded criticism.”
“Our investors have believed all along that this project has tremendous benefit for our region,
and provides a strong economic engine for the future,” stated Epstein, founding partner of
Circuit of The Americas. We remain committed to reaching our goal of being valuable
community partners as we establish a platform for sports and entertainment. We’re glad that
Tavo’s vision of bringing F1 to the people of Texas will become a reality.”
Engineering and construction teams working on the track will resume immediately, ensuring
completion for the 2012 race date.
“We have a substantial number of fans who have expressed interest in buying tickets and
hospitality, so today is a win for all of them as much as it is for Circuit of The Americas,” said
Steve Sexton, president of Circuit of The Americas. “We encourage everyone to visit our
website and register for information. Registered fans will receive the first communication
regarding ticket sales plans. In a matter of weeks we will have more exciting news as we unveil
our full calendar of world class events.”
Fans interested in receiving information about tickets for next year’s Formula 1 United States
Grand Prix can register their contact information at
Circuit of The Americas. Ticket sales
information will be communicated to those registered prior to general public notification.
About Circuit of The Americas
Circuit of The Americas will be a world-class destination for performance, education and
business. It will be the first purpose-built Formula 1 Grand Prix facility in the United States
designed for any and all classes of racing, from motor power to human power.
The master plan for Circuit of The Americas features a variety of permanent structures designed
for business, education, entertainment and race use. Its signature element will be a 3.4-mile
(5.5-km) circuit track. Other support buildings will include a medical facility, 14 executive
meeting suites, a conference center, and a banquet hall, as well as an expansive outdoor live
music space. Future proposed amenities include a driving/riding experience, a motorsports
driving club, kart track, grand plaza event center and tower, and a trackside recreational vehicle
park.
For more information and downloadable video, audio and photos, visit:
Circuit of The Americas.
Media Inquiries:
Jeff Hahn
Representing Circuit of The Americas
Office: 512-344-2017
jhahn@hahntexas.com
Ali Putnam
Circuit of The Americas
Office: 512-301-6600
ali.putnam@circuitoftheamericas.com

[fastfred]

This is great - all is good in Texas again. Now I've got to start working my backroads route to the track to avoid all those crowds next November! Can't wait.

[West-of-Hethel]

Originally Posted by West-of-Hethel

Ecclestone announced today that there will be no F1 races in the US next year.

Is anyone really surprised? This project was BS from the beginning.

Just wanted to take this opportunity to acknowledge that I was totally and completely wrong!



Hope everyone had fun at the race!

[antflies]

Great Track. Great Race! Indy was terrible compared to Austin.
Hope this one stays. T11 Kimi.