I don't get this... were they expecting to get a race for no money down there? Bernard does not strike me as an IOU type guy...

 

Wow, terrible news. Here's what it sounds like happened:

1. Track owners (COTA) find out how much money Tavo Hellmund (Bernie's good buddy) wants for the several-year F1 contract.
2. COTA balks at the price, and tries to cut out the middleman by going straight to Bernie.
3. Bernie and Tavo say "ok, screw you, we'll run our race in New Jersey."
4. COTA is left with no contract to hold races.

Bernie and Tavo have clearly given up on Austin and are now focused on NJ. This sucks.

 

Fixed it for you. ;-)

 

That's about it. These Texans don't know who they're messing with (to paraphrase the texas slogan). Bernie doesn't play around.

I hate to say it, but Frank Bulllit, now banned, was right.

 

Once the financial structure the NJ deal was revealed, I couldn't imagine how Ausitn was going to pull it off. Big difference.

 

I miss that character.

 

Bowlsheet.

There is too much money at stake. These guys will work it out.

 

Too much money. That's exactly the problem.

 

I hope you are right. The track layout in Austion looks fantastic. I hope it gets done. I want to drive the track!

 

Amen to that, brother!

 

VR will fund the difference - all is good!

 

Yeah, New Jersey has all the makings of a huge bluff. That's very typical Bernie -- he always pits two entities against each other and applies pressure thru the press when negotiating contracts. Either way, I don't think there'll be a race in NJ.

I still can't understand why COTA started construction BEFORE they had a signed contract from Bernie. How stupid are they?!?!

 

Hold on, really? NJ is a bluff? We're all abuzz over it, thinking it's for sure. Not so?

 

Very good article in AutoWeek explaining it all: http://www.autoweek.com/article/20111114/FREE/311149999

 

Here's another from same place, really is starting to sound bad...
http://www.autoweek.com/article/20111116/FREE/111119900