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Great news, I hear the track is going to be out near the airport? Austin is a perfect place for F1, decent weather, plenty of hotels, nothing is to far away. I am super excited, the last F1 race I saw was in Long Beach.

Phil
 

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Discussion Starter #22
What would such a project cost? A few hundred mill? Didn't they spend a full billion in Bahrain (show offs!)?
Initial estimates I've seen on the news is saying it will be at minimum $250M, but likely much more than that. My guess it'll be between $300M and $500M. Someone was quoted saying that the track surface itself for F1 spec would cost around $100M, insane.

However if you believe their projections that an F1 race will have as much economic impact as the Superbowl (I believe that) and will happen every year in the same location unlike the Superbowl, and that an F1 event can generate as much as $100M to the local economy, building the track can actually pay for itself in about 4-5 years assuming the execution is there. Not the most lucrative investment obviously, but the developers get the fame and royal treatment attached to a Grand Prix.

See this article: Statesman.com : Is Formula One coming to Austin?
 

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After seeing this interview with Tavo today I'm beginning to get more optimistic:

He has also defended his decision to use Hermann Tilke, the famed F1 track designer, because he claims the German is the best man for getting venues up to the right standards.

"I signed a deal with him a long time ago," said Hellmund. "They know where FIA and FOM want every plug, literally. They've already done the design, there's already a masterplan, and we have unbelievable land, a few miles from the airport. It's a killer location."

He added: "We optioned the land nearly three years ago with this in mind. We've already got the permitting for utilities, water and waste water, and those are the biggest things to get sorted. None of the land is developed, but it already has the infrastructure, roads and that kind of stuff."
 

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I'm getting optimistic also. IMO, there is someone a lot bigger than Tavo behind the scenes that made this happen and is funding the track. Tavo is just the front man. If Tavo was hitting up your basic $10 million per investor crowd, the word would have gotten out. There are reasons why some billionaires would want to remain anonymous for the time.
 

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They already have their money, they already have the course design, they already have the property, they don't have union workers or snow to slow things down, the city will rubber stamp their plans because it's out east where they will do anything for growth plus there is no development near the track. For those that don't know Austin, the city put in a loop recently, SH 130 which provided access to many thousands of acres of land that is not developed. There is nothing out there so there are no neighborhoods etc. to protest the track.

Tilke has designed some good non F1 tracks. Unlike most recent tracks that Tilke built for governments, Tavo is a racer and is determined to build a racers track. 2012 might be a little optimistic though but I will not be too upset if it starts in 2013.
 

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That lil' SH 130 Loop is a freaking expensive toll road Fuzz!

They already have their money, they already have the course design, they already have the property, they don't have union workers or snow to slow things down, the city will rubber stamp their plans because it's out east where they will do anything for growth plus there is no development near the track. For those that don't know Austin, the city put in a loop recently, SH 130 which provided access to many thousands of acres of land that is not developed. There is nothing out there so there are no neighborhoods etc. to protest the track.

Tilke has designed some good non F1 tracks. Unlike most recent tracks that Tilke built for governments, Tavo is a racer and is determined to build a racers track. 2012 might be a little optimistic though but I will not be too upset if it starts in 2013.
You're living in a dream world amigo. having grown up in austin I know the city real well. They DO NOT have the funds together and the Great State of Texas will only pledge up to $25 million / year going forward. this track will be in excess of $300 million and that's being conservative. :rolleyes:

Additionally how is this supposed to make money after that one big F1 weekend muchacho? Rent it out to who? -poke-

Your pal Tavo is a Mexican and should think about plopping this down in Mexico City where some palms can be greased.

Sorry junior... looks like you'll still have to travel to Canada for your F1 fix.


:shift:
 

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Michael Dell was the prime mover behind this initially!

I'm getting optimistic also. IMO, there is someone a lot bigger than Tavo behind the scenes that made this happen and is funding the track. Tavo is just the front man. If Tavo was hitting up your basic $10 million per investor crowd, the word would have gotten out. There are reasons why some billionaires would want to remain anonymous for the time.
Not anymore however.

Sorry. :cool:
 

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Tavo and his investors could care less what the old Austin hippies or naysayers think because they are a lot farther along than anyone realized. Everyone involved had to sign a nondisclosure agreement but as a third generation Austinite and businessman, my VC friends think the money is there and has been there for a while. The state money is minor. Tilke was hired because he is the only architect big enough that could do a project like this in the amount of time they have.
 

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My family has been in the area since 1830 hombre!

Tavo and his investors could care less what the old Austin hippies or naysayers think because they are a lot farther along than anyone realized. Everyone involved had to sign a nondisclosure agreement but as a third generation Austinite and businessman, my VC friends think the money is there and has been there for a while. The state money is minor. Tilke was hired because he is the only architect big enough that could do a project like this in the amount of time they have.
Glad yours has been around a tad. :rolleyes:

This entire scheme makes absolutely NO sense at all. How in the Hell is anyone suppossed to make any money off this little fandango? :huh:

Your pal Tavo will most likely go down in Texas history as a 21st century Billie Sol Estes.


rotfl
 

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Dang you are old if you remember Billie Sol Estes. I had forgotten about him.

The ROI for a Formula 1 track in the US probably stinks. There are lots of better investments. All the US needed was one or two multi billionaires whose love for F1 and what it does for their town is greater than return on investment. I mentioned Dell because he has donated at least $100 million to make Austin a better town with obviously no financial return on investment. A F1 track would finally make Austin a top city in the eyes of those around the world but there are other multi billionaires in Tejas instead of Dell that could be doing this. I did find it interesting that the same week that the F1 track was announced, Dell's brother was hired to work at Austin Ventures. Maybe just coincidence. If you have $20 billion, wouldn't you spend off a couple of 100 mill on F1?
 

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One race in one weekend a year is not going to do schit for a city hombre!

Dang you are old if you remember Billie Sol Estes. I had forgotten about him.

The ROI for a Formula 1 track in the US probably stinks. There are lots of better investments. All the US needed was one or two multi billionaires whose love for F1 and what it does for their town is greater than return on investment. I mentioned Dell because he has donated at least $100 million to make Austin a better town with obviously no financial return on investment. A F1 track would finally make Austin a top city in the eyes of those around the world but there are other multi billionaires in Tejas instead of Dell that could be doing this. I did find it interesting that the same week that the F1 track was announced, Dell's brother was hired to work at Austin Ventures. Maybe just coincidence. If you have $20 billion, wouldn't you spend off a couple of 100 mill on F1?
It's a crap investment by anyone with eyes and I believe you're wrong about Dell sinking that much cash into Austin. Only thing I've heard him contribute to is a Jewish Center somewheres. He wants to make a real impact then he should donate the cash to repair Duval Road through Hyde Park... my college hood. Thought I saw a few suspension parts off my old '67 Elan in one of them potholes the last time I cruised through there. :eek:

If I had $20 billion I would build a track of superior design. However ol' Michael is a computer geek first and foremost and that's the bottom line. This entire thing smells like doodoo. Lastly your pal Tavo Hellmund does not own any property in either Travis or Williamson counties. He sleeping on someone's couch or what?


rotfl
 

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this has been pretty thoroughly debunked over on the ferrari f1 forum. but let me add:

the host city has to pay FOM to hold the race there.
but, bernie owns all track advertising at f1 events.
so the only way the track makes money is by a) ticket sales and b) tourist revenues. that mean governments need to be behind the effort; there is almost no payback for private investors unless maybe you own all the hotels around.

and just because you might have local billionaires (or even 100 millionaires) willing to part with some bucks, why should they? they can afford to visit any f1 venue at far more exotic locations.

just look at the most recent addition to the f1 calendar, montreal. it is a track that already exists! in an awesome city! (nothing against austin.) with infrastructure and experience already in place. and they could barely afford to get back on the calendar, and it required a government guarantee ... as do all new f1 venues. bernie requires *government* guarantees because he wants to be absolutely sure of getting paid before he brings the f1 circus to town.

no way austin is going to do that.
 

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wasn't the russian grand prix this year? what ever happened to that and "its" 2010 drive has no home race....
 

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this has been pretty thoroughly debunked over on the ferrari f1 forum. but let me add:

the host city has to pay FOM to hold the race there.
but, bernie owns all track advertising at f1 events.
so the only way the track makes money is by a) ticket sales and b) tourist revenues. that mean governments need to be behind the effort; there is almost no payback for private investors unless maybe you own all the hotels around.

and just because you might have local billionaires (or even 100 millionaires) willing to part with some bucks, why should they? they can afford to visit any f1 venue at far more exotic locations.

just look at the most recent addition to the f1 calendar, montreal. it is a track that already exists! in an awesome city! (nothing against austin.) with infrastructure and experience already in place. and they could barely afford to get back on the calendar, and it required a government guarantee ... as do all new f1 venues. bernie requires *government* guarantees because he wants to be absolutely sure of getting paid before he brings the f1 circus to town.

no way austin is going to do that.
This is why so many euro tracks have canceled or threatened to cancel over the last decade. I think Bernie must be the greatest salesman in the world to get anyone to sign up anymore.
 

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Must add that my beloved hometown is still quite provincial amigo!

this has been pretty thoroughly debunked over on the ferrari f1 forum. but let me add:

the host city has to pay FOM to hold the race there.
but, bernie owns all track advertising at f1 events.
so the only way the track makes money is by a) ticket sales and b) tourist revenues. that mean governments need to be behind the effort; there is almost no payback for private investors unless maybe you own all the hotels around.

and just because you might have local billionaires (or even 100 millionaires) willing to part with some bucks, why should they? they can afford to visit any f1 venue at far more exotic locations.

just look at the most recent addition to the f1 calendar, montreal. it is a track that already exists! in an awesome city! (nothing against austin.) with infrastructure and experience already in place. and they could barely afford to get back on the calendar, and it required a government guarantee ... as do all new f1 venues. bernie requires *government* guarantees because he wants to be absolutely sure of getting paid before he brings the f1 circus to town.

no way austin is going to do that.
This entire thing sounded beyond rational from the start. :rolleyes:

Was just south of your area last month and had the best damn al pastor tacos there in San Carlos @ El Maguey Taqueria. On Holly Str. real close to to the 101 freeway.

El Maguey Taqueria - San Carlos, CA


:up:


What F1 Ferrari site is this?
 
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