Ecclestone dishes on Austin F1 debacle
11-28-2011, 06:15 PM
#1
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Thread Starter
11-28-2011, 06:23 PM
#2
Addict
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Anyone know what the race fee to Bernie is for the NY/NY race? Who is on the hook for that?
11-28-2011, 07:06 PM
#6
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“I was disappointed insofar as he had what he thought were partners that could finance the business and wouldn’t let him down. Really, they let him down and they’re trying to steal from him, get him out of it, and do the whole thing themselves," Ecclestone said to Cooper.
Ecclestone said he didn't have a problem with Hellmund, a former racer who he promoted races with in the 1980s, and that Hellmund trusted people who "aren't as reliable as they should be."
Circuit of the Americas recently sent Ecclestone and F1 a new contract, but Ecclestone told Cooper, "...we are not interested."
According to the Cooper blog, "Ecclestone is not confident in COTA’s ability to pay for the race over the long term, especially after the $25 million sanctioning fee promised by Texas State Comptroller Susan Combs in May 2010 has not been forthcoming."
The reference here is to money expected to come from the Texas Major Events Fund, which requires receipt of a completed application, a new economic impact study and holding of a first race, which has to happen before any state money is put into COTA's hands.
Asked if F1 would have given COTA and Austin the race without the $25 million from the state, Ecclestone told Cooper, “It’s not just the $25 million, that’s a small part of it, it’s the whole package. Everybody else seems to be happy and comply. I think the problem is a simple one, they never had the money. It’s simple.”
Ecclestone said he didn't have a problem with Hellmund, a former racer who he promoted races with in the 1980s, and that Hellmund trusted people who "aren't as reliable as they should be."
Circuit of the Americas recently sent Ecclestone and F1 a new contract, but Ecclestone told Cooper, "...we are not interested."
According to the Cooper blog, "Ecclestone is not confident in COTA’s ability to pay for the race over the long term, especially after the $25 million sanctioning fee promised by Texas State Comptroller Susan Combs in May 2010 has not been forthcoming."
The reference here is to money expected to come from the Texas Major Events Fund, which requires receipt of a completed application, a new economic impact study and holding of a first race, which has to happen before any state money is put into COTA's hands.
Asked if F1 would have given COTA and Austin the race without the $25 million from the state, Ecclestone told Cooper, “It’s not just the $25 million, that’s a small part of it, it’s the whole package. Everybody else seems to be happy and comply. I think the problem is a simple one, they never had the money. It’s simple.”
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11-28-2011, 10:55 PM
#9
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It's all about Bernie's money$$$$$
11-28-2011, 11:33 PM
#10
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11-29-2011, 12:25 AM
#12
Drifting
Sounds like there is some principle going on too --
"Really, they let him down and they’re trying to steal from him, get him out of it, and do the whole thing themselves,"
Sounds like they were trying to either save some $$ by getting rid of the middle man, or
reduce the amount of lime light they were sharing -- or both.
Then Bernie got word of things and the price went up. If they ponied up the extra funds,
he might have done Tavo right on the side.
Now COTA is sitting on a very expensive mud puddle.
mike
"Really, they let him down and they’re trying to steal from him, get him out of it, and do the whole thing themselves,"
Sounds like they were trying to either save some $$ by getting rid of the middle man, or
reduce the amount of lime light they were sharing -- or both.
Then Bernie got word of things and the price went up. If they ponied up the extra funds,
he might have done Tavo right on the side.
Now COTA is sitting on a very expensive mud puddle.
mike
11-29-2011, 04:27 PM
#15
King of Cool
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He's actually been more than enough patience with these idiots and their excuses.
They wanted to have a F1 race, and in order to be able to do that, all they needed to do was to sign a contract and pay a fee, which they've done neither.