Formula 1 in Texas?
05-26-2010, 03:28 PM
#62
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This is good news, even if it were only for that one week a year of Texas F1 frenzy.
Just hoping that Mr. Hellmund's business savvy is a bit better than the folks running the Istanbul F1 circuit. From what I understand that track is only used once a year for the Turkish GP.
I am sure the local car clubs will help out Mr. Hellmund generate some side-revenue when this is up and running. :-)
Interesting to find out what they'd charge for track rental for a weekend.
JP
Just hoping that Mr. Hellmund's business savvy is a bit better than the folks running the Istanbul F1 circuit. From what I understand that track is only used once a year for the Turkish GP.
I am sure the local car clubs will help out Mr. Hellmund generate some side-revenue when this is up and running. :-)
Interesting to find out what they'd charge for track rental for a weekend.
JP
05-26-2010, 04:59 PM
#63
Pinecone Watchman
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Let's whip out the ole back of the envelope, Joost. If we use the TX Motor Speedway guy's estimate of $250 million and don't increase it for F1 vs. NASCAR as he suggests, but only apply about a 2.75% annual inflation for the 14 years since it was built, then his $250 mil grows to about $364 mil. Using a rough rule of thumb of a seven year payoff tells us that we need about $52 mil/year in profit. Now if we generously assume that the week long F1 event generates enough revenue to cover the track's entire annual operating budget, we need about $1 million a week in rental. Finally if we assume that the going rate for the two weekend days is equal to the five week days, then one weekend rental would run about a half mil. If we get the same rough 110-ish paying drivers per DE and no additional costs, each driver would have to pony up just $4,545. But you'd get a free dinner Saturday night!
05-26-2010, 05:16 PM
#65
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05-26-2010, 05:42 PM
#67
Burning Brakes
Let's whip out the ole back of the envelope, Joost. If we use the TX Motor Speedway guy's estimate of $250 million and don't increase it for F1 vs. NASCAR as he suggests, but only apply about a 2.75% annual inflation for the 14 years since it was built, then his $250 mil grows to about $364 mil. Using a rough rule of thumb of a seven year payoff tells us that we need about $52 mil/year in profit. Now if we generously assume that the week long F1 event generates enough revenue to cover the track's entire annual operating budget, we need about $1 million a week in rental. Finally if we assume that the going rate for the two weekend days is equal to the five week days, then one weekend rental would run about a half mil. If we get the same rough 110-ish paying drivers per DE and no additional costs, each driver would have to pony up just $4,545. But you'd get a free dinner Saturday night!
As long as you have your calculator out, how much would it increase our costs to have grid girls at our DE's?
05-26-2010, 05:48 PM
#68
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05-26-2010, 11:24 PM
#69
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05-27-2010, 01:04 AM
#70
5th Gear
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I wonder if Moto GP would consider racing on this new circuit? I'm beyond excited that Formula 1 is coming to Texas but it would be even better if Moto GP raced here too.
05-27-2010, 01:44 AM
#72
Love, Austin
05-27-2010, 09:39 AM
#73
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05-27-2010, 09:44 AM
#74
Burning Brakes
05-27-2010, 09:55 AM
#75
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