Most liked posts in thread: F1 Coming to .... New Jersey ??

farkus · Oct 25, 2011

I saw this right after the Korean race...

The future of the Korean Grand Prix, which only debuted in 2010, is in doubt after organisers warned they could not continue to sustain substantial losses on an event which so far has failed to enthuse the local community.

It is believed that the 2011 grand prix resulted in a deficit of around US$56 million, almost exactly the amount of the hosting fee paid to Bernie Ecclestone, the Formula One commercial rights-holder. The overall cost of the event was around US$80 million.

Speaking to Autosport, Park Won Hwa, the race promoter, warned that the event could be scrapped unless Ecclestone renegotiated the fee, which is due to rise annually by 10%.

"We are trying hard, but we need the co-operation of Ecclestone," he said. "We certainly want to continue with this event because it is a big event, even though we have losses. We want to give this region momentum by holding this event to help boost its economy and to boost the image, and to change our farming background in this region.

"He knows perfectly well our current situation, and I hope he is more co-operative."

The organisers are under increasing political pressure from those who argue the money would be better spent in helping the local economy. The Yeongam circuit is situated in a largely agricultural region of low income communities.

"Some people in this region are against the race because of a big financial loss," Hwa explained. "Those citizens, who have a background as farmers and are normally poor, want to have the funds distributed for other purposes rather than be used for this so far unpopular event."
Click to expand...

Steve · Oct 25, 2011

^ Looks like a prime candidate...

Nathan · Oct 25, 2011

Track Map in the NY Times

Article in same...

On Tuesday afternoon, with the Manhattan skyline behind them, investors and local officials met in Weehawken, N.J., to formally introduce a proposal to host a Formula One race along and above the banks of the Hudson River in 2013.

The Formula One Grand Prix of America, as it would be called, would run on public streets in Weehawken and West New York in a 3.2-mile circuit, taking in the rugged, steep New Jersey Palisades — a terrain feature that could, at least for drivers, evoke Monaco, where Formula One holds its premier race.

The press conference aired live on Speed TV from the Port Imperial ferry terminal, the proposed start-finish line. Speakers included Gov. Chris Christie; Mayors Richard Turner of Weehawken and Felix Roque of West New York; and Leo Hindery Jr., the New York sports media and investing magnate who has led the effort to corral investors for the proposal.

Mr. Turner and Mr. Roque announced in August that they were preparing a proposal, along with unnamed investors, to be considered by Bernie Ecclestone, the boss of the Formula One race series, and the F.I.A., the series’s governing body.

At Tuesday’s conference, Mr. Hindery said that Mr. Ecclestone and the F.I.A. had signed off on the proposal in the weeks leading up to the announcement.

Mr. Ecclestone has long coveted the idea of a New York grand prix. If the race is approved by government authorities, he would get one, if not in name.

Out of deference to the New Jersey communities in which the race would be held, organizers chose not to call the event the New York Grand Prix, instead opting for the all-inclusive Grand Prix of America.

“The Jets play in New Jersey, and they’re called the New York Jets. Same with the Giants,” said Mr. Hindery in a telephone interview on Monday. “And the local government has been just a spectacular ally.”

In 2001, Mr. Hindery founded the Yes regional sports television network, which broadcasts Yankees baseball games, as well as InterMedia Partners, a private equity firm.

A Formula One race was last held in the United States in 2007, at a specially designed circuit in Indianapolis. The open-wheel series is to return to the country in Austin, Tex., on Nov. 18, 2012, for the United States Grand Prix, which is scheduled to be run on a purpose-built course currently under construction outside the Texas capital.

But whereas Texas lawmakers have been criticized for allotting an annual subsidy of $25 million for the circuit’s maintenance, Mr. Hindery said that the investors involved in the New Jersey plan would foot the bill.

“From the start we’ve said that we’d pay for the privilege, without public expenditure,” he said. During a Q&A period after Tuesday’s conference, Mr. Hindery said that tickets to the weekend event would cost “on the order of $360 for the three days,” accounting for two days of practice sessions before the race, which would be held on the Sunday following the Montreal Grand Prix in June. (The 2013 Formula One calendar has not been set.)

Mr. Hindery also noted the cost savings of running a race on existing streets rather than a purpose-built course, like the one in Texas.

“There’s not a yard of dirt being moved,” he said. “We’re pennies on the dollar compared to Austin.”

The expense of mounting the inaugural United States Grand Prix at Austin could cripple any effort to reprise the race, let alone make it a fixture of the Formula One calendar, Mr. Hindery said.

“I wouldn’t bet on Austin making it,” he said.

IndyCar, the premier open-wheel race series in the United States, held a race on the streets of Baltimore in September. Despite early skepticism and multiple lawsuits, the Baltimore Grand Prix was deemed a success by organizers, broadcasters and city officials.

Mr. Hindery declined to identify other investors involved in the plan, or a title sponsor.

The design of the proposed circuit was provided by Tilke, a German firm known for its overhauls of historic racetracks, notably the Circuit de Catalunya in Spain and the NÃ¼rburgring in Germany, as well as its design of the Formula One street course in Valencia, Spain — a course that Mr. Hindery, an accomplished racecar driver who has competed in the 24 Hours of Le Mans, singled out for providing the clearest template for the proposed course.

“If you find the right configuration, you can have very high-end racing here,” Mr. Hindery said.
Click to expand...

Steve · Oct 25, 2011

I've been looking for a good pic of the track map and the profile. That's another I didn't post because it's slightly different from the one they showed at the press conference. There's a pic of most of it over at Jalopnik (here).

farkus · Oct 26, 2011

I'm finding it very odd that there is so little info available beyond the sparse photos taken at the press conference of the track layout and concept sketch. Hell even Jalopnik's videos have the track going counterclockwise while I've only found in one other place that states the track is clockwise.

Also if you look closely at Tilke's layout along with the concept sketch there is no pit in, just a pit out assuming that the circuit is clockwise.

It leaves me wondering why the need to announce this yesterday when it seems that all of the plans are so sketchy at this point. I guess we'll see in the coming days or weeks. I've also seen nothing beyond the NY Times article in the mainstream media outlets so far. I guess they're not following Chris Christie's every move since he declined to run for president.

They know nothing about it now, but I can only imagine that if this comes to fruition that they'll be broadcasting Good Morning America, the Today Show, CNN American Morning, Oprah, Ellen and every other NY show trackside in June 2013. Suddenly everybody's an F1 fanatic! :crazy:

Nathan · Oct 26, 2011

The Wall St Journal does have an article But when it's titled Formula One Coming to New York, But Will Fans Care? you have to wonder if there is really any support.

Really had to search the NY Post site to find this article.

Could not find anything in The Daily News

It is front page news in the NJ Star-Ledger. PDF of the front page.

minimark · Oct 26, 2011

Think they might be throwing the ball up in the air, if the support is there, we have an F1 race in NJ, if not it'll get put off without one brick being laid.

This does make a lot more sense than building a costly permanent circuit. So me fingers are crossed that it'll happen!!!

Steve · Oct 26, 2011

One of the maps shown at the press conference. Even if the exact layout isn't right, this one gives an idea of the profile. I think they said something like 150' elevation change top to bottom.

Steve · Oct 26, 2011

F1 coming to ... Russia ...

Russia will spend $200 million on Sochi track (Reuters via eurosport.yahoo.com)

Wed, 26 Oct 15:12:00 2011
The Russian government plans to spend nearly $200 million building a motor racing circuit in Sochi to host the country's first Formula One grand prix in 2014, a senior government official said on Wednesday.

"The federal government has allocated 5.846 billion roubles ($195.4 million) for this project," Alaxander Ivanov, deputy governor of the Krasnodar region, told reporters. He said the construction of the track itself will cost about $200 million.

The rest of the money will come from sponsorship and private investors, officials said.

Formula One supremo Bernie Ecclestone signed a seven-year deal with the regional governor last year to stage a Russian Grand Prix in the Black Sea resort from 2014 until 2020.

Sochi is also hosting the 2014 Winter Games and the opening race could be put back a year if it hinders preparations for the Olympics.

However, with Prime Minister Vladimir Putin backing the Formula One project, Russian officials have been optimistic that all the infrastructure would be built on time.
Click to expand...

Steve · Oct 26, 2011

Eddie Jordan hails 'huge' New Jersey F1 Grand Prix (news.bbc.co.uk)

The introduction of Formula 1 to the US state of New Jersey from 2013 is "huge news" for the sport, says former team owner Eddie Jordan.

The New York skyline is the backdrop to the 3.2-mile circuit which will be the second US track on the calendar alongside a race in Austin.

"New York is one of the major cities in the universe," said Jordan.

"We have been wanting to go somewhere like this for a decade now, this is huge news."

Formula 1 has been held at various venues in the United States, but November 2012's United States Grand Prix in Austin will be the first time the country has hosted a race since Lewis Hamilton's victory in Indianapolis in 2007.

The New Jersey race, which is to be called the Grand Prix of America, is predicted to attract up to 100,000 spectators throughout the race weekend.

BBC F1 chief analyst Jordan believes that the event represents a unique showcase for the sport.

"It is the jewel in the crown, not just in terms of America, but in terms of grand prix racing and brand awareness, bases and venues," he added.

"A race in the centre of a major city has huge upsides. There are difficulties in terms of getting around, but it pales into insignificance compared with the benefits for the teams, the country, the city, commercially for Formula 1 and just the whole euphoria of the thing."

The 2012 season is made up of 20 races across five continents and Jordan, who ran the Jordan F1 team from 1991 to 2004, believes the addition of New Jersey the year after will strengthen both the racing pedigree and commerical value of Formula 1.

"The mix now is such that we have some very great classic venues like Spa and Monza and street circuits like Valencia, Monaco and Singapore," he said

"The other circuits coming on stream are hugely important. We have focused very strongly on Asia and that showed vision and foresight in my opinion.

"While Europe is steeped in Formula 1 history, the major commercial bugbear for Formula 1 is that we haven't penetrated deeply enough into the United States.

"The States has always been one of those sketchy areas but this is the remedy of all remedies.

"Whether it can boost sponsor revenues or not, it will certainly maintain it. Global corporations will be able to say, 'wow now we can continue in Formula 1' or 'wow this is the time to come in'.

"It is the only sport that is able to offer that."

PREVIOUS STATESIDE GRAND PRIX VENUES
2000-7: Indianapolis
1989-91: Phoenix, Arizona
1984: Dallas, Texas
1982-88: Detroit, Michigan
1981-82: Las Vegas, Nevada
1976-81: Long Beach, California
1961-80: Watkins Glen, New York
1960: Riverside, California
1959: Sebring, Florida
Click to expand...

Steve · Oct 26, 2011

(source: grandprix.com)

minimark · Oct 26, 2011

Wow, Bernie's been a busy little beaver.....

Huge amounts of money being spent on F1 tracks in this world economy......is there something they know that we don't?

BThayer23 · Oct 26, 2011

minimark said: ↑

Wow, Bernie's been a busy little beaver.....

Huge amounts of money being spent on F1 tracks in this world economy......is there something they know that we don't?
Click to expand...

Rich people are still rich. The world economy may be in a recession, but luxury goods are not in a recession. F1 and most of its sponsors are luxury goods, hence the recent expansion of F1. For rich people, by rich people. The rest of us just watch on TV.

minimark · Oct 26, 2011

BThayer23 said: ↑

Rich people are still rich. The world economy may be in a recession, but luxury goods are not in a recession. F1 and most of its sponsors are luxury goods, hence the recent expansion of F1. For rich people, by rich people. The rest of us just watch on TV.
Click to expand...

Guess your right Ben, in a world run by a ruling class all the rest of us will be allowed to view from our respective places.......

farkus · Oct 26, 2011

Bigger version of the track map with key...

njaerialweb - Motoring Alliance Gallery

It doesn't seem that a whole lot of time or effort was put into that layout...looks more like Herman handed it to an intern and said, "here kid...ya wanna be a big time F1 circuit builder? See what you can do wid dis!"

BThayer23 · Oct 26, 2011

minimark said: ↑

Guess your right Ben, in a world run by a ruling class all the rest of us will be allowed to view from our respective places.......
Click to expand...

Think about it... 3 day ticket = $360. Burger and soda = $18.

Family of four watching three days of F1 = $1,656. Plus tax and sunscreen. I can buy good upper level season tickets to the local NHL team for less than that.

am0eba · Oct 26, 2011

BThayer23 said: ↑

Think about it... 3 day ticket = $360. Burger and soda = $18.

Family of four watching three days of F1 = $1,656. Plus tax and sunscreen. I can buy good upper level season tickets to the local NHL team for less than that.
Click to expand...

Based on the surveys that COTA was doing a few months ago, that would have been the cost for ONE person standing in the dirt at Austin for the weekend!

Nice to see a reasonable price being thrown around for New Jersey. For some reason I'm much more excited about this news than I have been for Austin...

_Dave_

Redbeard · Oct 26, 2011

minimark said: ↑

:idea: I say we do an HPDE instead and watch the rerun on TV!
Click to expand...

An all MINI/Mini HPDE and call it "A Mini F-1 Event" lol! :lol:

Steve · Oct 27, 2011

farkus said: ↑

I saw this right after the Korean race...
Click to expand...

... and here's the latest from Bernie:

Ecclestone: Korea future uncertain (autosport.com)

Thu, 27 Oct 16:20:11 2011
Formula 1 supremo Bernie Ecclestone has cast doubt on the future of the Korean Grand Prix, after ruling out talks to renegotiate its contract.

The promoter of the Yeongam event, Won-Hwa Park, told AUTOSPORT earlier this month that he wanted to seek a cut in the race hosting fee because of the huge losses the event is facing.

Ecclestone has said that such an outcome is unlikely, however, after conceding that he has 'no idea' if the event would remain a part of the calendar.

"There are lots of things in life you can't afford, and you don't have to have them," he told reporters at Buddh, ahead of the Indian Grand Prix. International Circuit. "And it took us long enough to negotiate with them in the first place."

He added: "It was strange. They didn't really get behind it. That was a disappointment because it was a big enough effort to get it on in the first place."

When asked if the matter would be finished if the Koreans were unable to afford the race, Ecclestone said: "Yeah".
Click to expand...

Redbeard · Oct 27, 2011

minimark said: ↑

This is why I would have a serious problem investing in a future F1 track if that is going to be it's entire basis of existence. Bernie is going to get his period, even the slightest problem and the only thing the little prick can be counted on for is a fond farewell....

Motorsports will be a better place the day the great Bernie is put to pasture.
Click to expand...

Heaven forbid he consider the "unwashed masses" that comprise the fan base. :frown2:

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