Most liked posts in thread: F1 Coming to .... TX!!

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  1. minimark

    minimark Well-Known Member

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    #228 minimark, Oct 14, 2011
    All about the market, what Austin had to offer and the breaks they would get..... and I'm sure they had an eye on NASCAR'S success in Texas too. ;)
     
  2. Nathan

    Nathan Founder

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    #229 Nathan, Oct 14, 2011
    IndyCar does well in TX too.

    Plus...It's very close to Mexico and with Sergio Perez as a driver you know that was a thought too. Add in that Carlos Slim is interested in F1. Being he has about $74 billion in his pocket you just know Bernie is scheming on how a few of those billions can fly into his pockets.
     
  3. minimark

    minimark Well-Known Member

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    #230 minimark, Oct 14, 2011
    Speaking of Bernie, I'm sure his delicate ego much prefers a track purpose built for F1 and not some other's lowly attempt at adapting to his/F1's needs....

    PS: Very true about Indycar Nathan, may be just about the only other permanent circuit here in America that they enjoy a sizable attendance, other than Indy itself of course.
     
  4. Firebro17

    Firebro17 Dazed, but not Confused
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    #231 Firebro17, Oct 15, 2011
    You can't get any closer to Mexico than the Salinas Valley.

    Lowley?
     
  5. Steve

    Steve Administrator
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    #232 Steve, Nov 3, 2011
    Austin receives planning permission for grandstand (gpupdate.net)
     
  6. Minidave

    Minidave Well-Known Member
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    #233 Minidave, Nov 3, 2011
    Intersting...they finally got permits to build, and in the meantime those buildings are already being erected in New Jersey, where they only announced the track a few weeks ago.
     
  7. goaljnky

    goaljnky New Member

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    #234 goaljnky, Nov 3, 2011
    Well, I don't know if you're aware who runs the construction and concrete business in NJ, but I assure you they have a way to get around the red tape. :devil:
     
  8. Steve

    Steve Administrator
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    #235 Steve, Nov 4, 2011
    Hermann Tilke says construction of Austin circuit is on schedule (autosport.com)
     
  9. Steve

    Steve Administrator
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    #236 Steve, Nov 4, 2011
    [ame=http://www.youtube.com/watch?v=DImp-oJmsfQ]Circuit of the Americas Teaser Trailer - YouTube[/ame]
     
  10. Steve

    Steve Administrator
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    #237 Steve, Nov 4, 2011
    Some recent construction photos here.

    Couple overhead shots:

    [​IMG]

    [​IMG]
     
  11. Steve

    Steve Administrator
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    #238 Steve, Nov 12, 2011
    Austin GP looks doubtful, says Ecclestone (Reuters via eurosport.yahoo.com)
     
  12. minimark

    minimark Well-Known Member

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    #239 minimark, Nov 12, 2011
    Reassuring words from the great Bernie....

    .....sure wish I had stock in the Austin GP......not.
     
  13. Nathan

    Nathan Founder

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    #240 Nathan, Nov 14, 2011
  14. Nathan

    Nathan Founder

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    #241 Nathan, Nov 15, 2011
    Texas comptroller says money not guaranteed for U.S. Grand Prix

    By: Adam Cooper on 11/15/2011

    Source - Read more: Formula One: Texas comptroller says money not guaranteed for U.S. Grand Prix - Autoweek
     
  15. N2MINI

    N2MINI MINI of the Month

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    #242 N2MINI, Nov 15, 2011
    Sounds more and more like it will be a no go in Austin..

    I don't follow F1 too much and not at all on the money side of it but how do they justify
    charging 25 million per race to the track!!! 16-18 races a year is a TON of money for someone!!! Then you have the TV contracts, sponsors etc... which monies I assume goes to the track to help pay the 25 million to start with???
     
  16. minimark

    minimark Well-Known Member

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    #243 minimark, Nov 15, 2011
    As purely a F1 fan this is very disappointing. From a business owner and a tax payer in my state, I would understand and support Ms Combs's position, were it to be here in NC.

    Bernie also has way to many flights of fancy for me to give him $25million up front.... Bernie and F1 are for sale to the highest bidder, previous commitments be damned....
     
  17. Steve

    Steve Administrator
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    #244 Steve, Nov 15, 2011
    Last edited: Nov 15, 2011
    There are two main formulas in Formula One. One has to do with the cars and the racing and the other is Bernie Ecclestone's revenue formula.

    I'm no expert but as far as I can make out all non-ticket revenue goes to FOM, the company Bernie runs F1 for. This does not include money raised by teams through team sponsorships, etc, but all TV revenue and anything under contract to F1 in general. Some of this is shared with the teams based on a percentage, don't know what the numbers are but of course the teams are always talking about how they get too little. In addition, if you want to host a race, you have to pay Ecclestone/FOM for the privilege. Speculation is Austin's $25M bill is actually lower than normal and the cost is typically closer to $35M per venue, per year.

    Local race hosts/organizers make all their money from ticket sales, other sales, and anything else they can arrange like maybe an event title sponsor.

    Bernie thinks his prices are cheap because after you pay him you'll be left with tons of money and will make a fortune. Of course he assumes race organizers will make most of this money through exorbitant ticket prices (from hundreds to thousands per person per race weekend) and he sees nothing wrong with that. In his view, you shouldn't even ask to host a race unless 1) local gov't is willing to pay even if it's a losing proposition because they want the influx of income F1 ought to bring to the local economy, or 2) you're sure you can fill the stands with many thousands of fans willing and able to pay high prices, or 3) both.

    To him, the $35M price tag is just his cut of the fortune you'll make.....
     
  18. minimark

    minimark Well-Known Member

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    #245 minimark, Nov 15, 2011
    All well and good Steve if you can trust him to abide by the deal. There are an awefull lot of variables in one of these deals, variables that Bernie can use to snatch an event away from you when a better offer comes in...

    Look what he's doing in Austin, already setting up his escape as everyone clamors for their piece of the F1 pie in in the US...

    ....pie....big pie....they couldn't even come close to matching the NASCAR attendance at Indy. Me thinks Bernie knows he has to pocket all the money he can up front... ;)
     
  19. Steve

    Steve Administrator
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    #246 Steve, Nov 15, 2011
    I didn't say it was a good formula...sarcastic attitude isn't easily expressed via text.

    You're right, Bernie honors his contracts if he wants to honor his contracts. Ya pays yer money (up front) and ya takes yer chances.
     
  20. Redbeard

    Redbeard JCW: because fast is fun!
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    #247 Redbeard, Nov 15, 2011
    Gah. I really appreciate Mrs. Combs position. She sees the benefit and wants to support it but isn't going to waste tax-payer's dollars. Good on her.

    Being an F1 fan I would have loved to see a race in Texas. It's looking like there will be a seriously PO'ed track developer in the near future.

    I'm honestly not interested in the F1 race in New Jersey. I'll watch it on TV but I have zero motivation to go there and see the race. I've been to there. The area around the course is a hole, and staying in New York is BLOODY expensive. No thanks.
     
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