What is going on in Austin?!!?!?!?
11-17-2011 | 01:18 PM
#46
Late Porkchops
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This is posturing at its best on both sides. And the COTA owners are (probably rightfully) trying to squeeze some of their money from the promoter.
No saying they wont can it though.
No saying they wont can it though.
11-17-2011 | 01:19 PM
#47
Drifting
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I have it from deep within the Berniverse that NJ is NOT a done deal and that BE blew off the delegation from Chicago explaining that promoters didn't make any money out of F1 EVER, only BE makes money.
My sources on this are immaculate.
R+C
My sources on this are immaculate.
R+C
11-17-2011 | 01:20 PM
#48
Late Porkchops
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What this is about is very very simple.
The builders and owners of the track want to squeeze the race promoter for whatever reason. Either they arent making enough, Bernie wants more, it is costing more, they want that money for themselves, they want to leverage that promo money for themselves, they want a cut of the promoter funds,..... it is as simple as that.
On the very first day of this I said that there is NO WAY at all I would put a dollar into this if I did not first have at least 10 year rights to have a race here. Sure both sides might have some clearance hurdles on the term sheet, and have to work out year 5-10, other contract langauge and costs and carries and back ins, but these are experienced guys.
With everyone packing on a fee and taking a slice it gets expensive and you run out of pie. I know from experience.
The builders and owners of the track want to squeeze the race promoter for whatever reason. Either they arent making enough, Bernie wants more, it is costing more, they want that money for themselves, they want to leverage that promo money for themselves, they want a cut of the promoter funds,..... it is as simple as that.
On the very first day of this I said that there is NO WAY at all I would put a dollar into this if I did not first have at least 10 year rights to have a race here. Sure both sides might have some clearance hurdles on the term sheet, and have to work out year 5-10, other contract langauge and costs and carries and back ins, but these are experienced guys.
With everyone packing on a fee and taking a slice it gets expensive and you run out of pie. I know from experience.
11-18-2011 | 08:34 AM
#50
Thread Starter
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That doesn't surprise me. I'm certain that a few people in the NJ/NY area would want their beaks wet with something like this to move forward. But Bernie is not the type to deal with bread crumbs. He's used to third world countries lining up at his door to had him over truckloads of money to say nothing of Bahrain that still wanted to give him tens of millions of dollars even though the race never happened just for the opportunity to have it again in 2012.
11-19-2011 | 08:58 AM
#52
The Indian Govt on the other hand tried their best to f** things up like trying to tax F1 teams on 1/19 of their total income etc...!
11-21-2011 | 11:43 AM
#54
King of Cool
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Of course but this at this point has nothing to do with BE, it's the guys here (builder, owner, promoter) screwing things up.
Latest now is that the race would happen in 2013, not 2012.
I dunno, I hope it happens even if late but I'm getting (and have been for quite some time) the same feeling as I did with the USF1 team fiasco...
Latest now is that the race would happen in 2013, not 2012.
I dunno, I hope it happens even if late but I'm getting (and have been for quite some time) the same feeling as I did with the USF1 team fiasco...
