F1 Austin update
#16
They may end up getting $25 million from the state, but it will be likely AFTER the race happens and they do the math on the tax receipts related to the event. The back and forth uncertainty ruined the chances for an advance payment from the state.
The state money comes directly from sales, hotel, alcohol, and rental car taxes. In some cases it can be advanced, but not looking likely in this case. For instance, last years Superbowl in Dallas got almost $30 million from the state from these tax receipts...
The state money comes directly from sales, hotel, alcohol, and rental car taxes. In some cases it can be advanced, but not looking likely in this case. For instance, last years Superbowl in Dallas got almost $30 million from the state from these tax receipts...
#17
Rennlist Member
Thread Starter
#18
Because purpose built tracks are better! They plan on having F1 there and also MotoGP, Australian V8 Supercars, and perhaps other races down the road. They'll also host large concerts out there.
The cost is substantial, but if they can make all those events happen they'll do very well for themselves...
btw, if you've seen the videos of the NJ track route you realize it is VERY narrow with long, long straights. Definitely a LOT of compromises when laying out a F1 track on public roads!
The cost is substantial, but if they can make all those events happen they'll do very well for themselves...
btw, if you've seen the videos of the NJ track route you realize it is VERY narrow with long, long straights. Definitely a LOT of compromises when laying out a F1 track on public roads!
#20
Rennlist Member
Sorry if repost:
For all Formula 1 fans and those who have supported the F1 Watch Parties be assured there will be a race in Austin in 2012.
The official word as of this morning:
FOR IMMEDIATE RELEASE
December 7, 2011
Formula 1™ and Circuit of The Americas™ Ready to Roll
10-Year Race Contract
Brings F1™ Back to the U.S. in 2012; Construction to Resume
Immediately
AUSTIN, Texas – December 7, 2011 – Circuit of The Americas announced today they have
reached an agreement with Formula One Management that ensures the Formula 1 United
States Grand Prix remains on the FIA Formula 1 World Championship race calendar.
Red McCombs, chairman of McCombs Enterprises and founding partner of Circuit of The
Americas stated, “Mr. Ecclestone received his check today. We want to thank the fans
supporting us, the local officials and businesses that have encouraged us, the State of Texas,
Circuit of The Americas’ staff and Bernie himself. I want to thank and commend Bobby Epstein
for getting us across the finish line. Bobby’s perseverance and leadership kept the project on
track despite unfair and unfounded criticism.”
“Our investors have believed all along that this project has tremendous benefit for our region,
and provides a strong economic engine for the future,” stated Epstein, founding partner of
Circuit of The Americas. We remain committed to reaching our goal of being valuable
community partners as we establish a platform for sports and entertainment. We’re glad that
Tavo’s vision of bringing F1 to the people of Texas will become a reality.”
Engineering and construction teams working on the track will resume immediately, ensuring
completion for the 2012 race date.
“We have a substantial number of fans who have expressed interest in buying tickets and
hospitality, so today is a win for all of them as much as it is for Circuit of The Americas,” said
Steve Sexton, president of Circuit of The Americas. “We encourage everyone to visit our
website and register for information. Registered fans will receive the first communication
regarding ticket sales plans. In a matter of weeks we will have more exciting news as we unveil
our full calendar of world class events.”
Fans interested in receiving information about tickets for next year’s Formula 1 United States
Grand Prix can register their contact information at
www.circuitoftheamericas.com. Ticket sales
information will be communicated to those registered prior to general public notification.
About Circuit of The Americas
Circuit of The Americas will be a world-class destination for performance, education and
business. It will be the first purpose-built Formula 1 Grand Prix facility in the United States
designed for any and all classes of racing, from motor power to human power.
The master plan for Circuit of The Americas features a variety of permanent structures designed
for business, education, entertainment and race use. Its signature element will be a 3.4-mile
(5.5-km) circuit track. Other support buildings will include a medical facility, 14 executive
meeting suites, a conference center, and a banquet hall, as well as an expansive outdoor live
music space. Future proposed amenities include a driving/riding experience, a motorsports
driving club, kart track, grand plaza event center and tower, and a trackside recreational vehicle
park.
For more information and downloadable video, audio and photos, visit:
www.CircuitofTheAmericas.com.
Media Inquiries:
Jeff Hahn
Representing Circuit of The Americas
Office: 512-344-2017
jhahn@hahntexas.com
Ali Putnam
Circuit of The Americas
Office: 512-301-6600
ali.putnam@circuitoftheamericas.com
The official word as of this morning:
FOR IMMEDIATE RELEASE
December 7, 2011
Formula 1™ and Circuit of The Americas™ Ready to Roll
10-Year Race Contract
Brings F1™ Back to the U.S. in 2012; Construction to Resume
Immediately
AUSTIN, Texas – December 7, 2011 – Circuit of The Americas announced today they have
reached an agreement with Formula One Management that ensures the Formula 1 United
States Grand Prix remains on the FIA Formula 1 World Championship race calendar.
Red McCombs, chairman of McCombs Enterprises and founding partner of Circuit of The
Americas stated, “Mr. Ecclestone received his check today. We want to thank the fans
supporting us, the local officials and businesses that have encouraged us, the State of Texas,
Circuit of The Americas’ staff and Bernie himself. I want to thank and commend Bobby Epstein
for getting us across the finish line. Bobby’s perseverance and leadership kept the project on
track despite unfair and unfounded criticism.”
“Our investors have believed all along that this project has tremendous benefit for our region,
and provides a strong economic engine for the future,” stated Epstein, founding partner of
Circuit of The Americas. We remain committed to reaching our goal of being valuable
community partners as we establish a platform for sports and entertainment. We’re glad that
Tavo’s vision of bringing F1 to the people of Texas will become a reality.”
Engineering and construction teams working on the track will resume immediately, ensuring
completion for the 2012 race date.
“We have a substantial number of fans who have expressed interest in buying tickets and
hospitality, so today is a win for all of them as much as it is for Circuit of The Americas,” said
Steve Sexton, president of Circuit of The Americas. “We encourage everyone to visit our
website and register for information. Registered fans will receive the first communication
regarding ticket sales plans. In a matter of weeks we will have more exciting news as we unveil
our full calendar of world class events.”
Fans interested in receiving information about tickets for next year’s Formula 1 United States
Grand Prix can register their contact information at
www.circuitoftheamericas.com. Ticket sales
information will be communicated to those registered prior to general public notification.
About Circuit of The Americas
Circuit of The Americas will be a world-class destination for performance, education and
business. It will be the first purpose-built Formula 1 Grand Prix facility in the United States
designed for any and all classes of racing, from motor power to human power.
The master plan for Circuit of The Americas features a variety of permanent structures designed
for business, education, entertainment and race use. Its signature element will be a 3.4-mile
(5.5-km) circuit track. Other support buildings will include a medical facility, 14 executive
meeting suites, a conference center, and a banquet hall, as well as an expansive outdoor live
music space. Future proposed amenities include a driving/riding experience, a motorsports
driving club, kart track, grand plaza event center and tower, and a trackside recreational vehicle
park.
For more information and downloadable video, audio and photos, visit:
www.CircuitofTheAmericas.com.
Media Inquiries:
Jeff Hahn
Representing Circuit of The Americas
Office: 512-344-2017
jhahn@hahntexas.com
Ali Putnam
Circuit of The Americas
Office: 512-301-6600
ali.putnam@circuitoftheamericas.com
#21
Because purpose built tracks are better! They plan on having F1 there and also MotoGP, Australian V8 Supercars, and perhaps other races down the road. They'll also host large concerts out there.
The cost is substantial, but if they can make all those events happen they'll do very well for themselves...
btw, if you've seen the videos of the NJ track route you realize it is VERY narrow with long, long straights. Definitely a LOT of compromises when laying out a F1 track on public roads!
The cost is substantial, but if they can make all those events happen they'll do very well for themselves...
btw, if you've seen the videos of the NJ track route you realize it is VERY narrow with long, long straights. Definitely a LOT of compromises when laying out a F1 track on public roads!
https://rennlist.com/forums/8910249-post14.html
#22
Rennlist Member
Thread Starter
#23
Yes it is known that purpose built better track. But why roll dice with man like Mr. Ecclestone when one has no experience in running tracks? Another thing I read here is that Austin running out of water. How is race run when there is water shortage and too much dust in air?
https://rennlist.com/forums/8910249-post14.html
https://rennlist.com/forums/8910249-post14.html
Let me guess you've never been to Austin (or Texas)?
#25
Rennlist
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Screw that, I'm staying with VR.
__________________
Larry Herman
2016 Ford Transit Connect Titanium LWB
2018 Tesla Model 3 - Electricity can be fun!
Retired Club Racer & National PCA Instructor
Past Flames:
1994 RS America Club Racer
2004 GT3 Track Car
1984 911 Carrera Club Racer
1974 914/4 2.0 Track Car
CLICK HERE to see some of my ancient racing videos.
Larry Herman
2016 Ford Transit Connect Titanium LWB
2018 Tesla Model 3 - Electricity can be fun!
Retired Club Racer & National PCA Instructor
Past Flames:
1994 RS America Club Racer
2004 GT3 Track Car
1984 911 Carrera Club Racer
1974 914/4 2.0 Track Car
CLICK HERE to see some of my ancient racing videos.
#26
Rennlist Member
Thread Starter
Yes you are.
#27
#29
Rennlist Member
Thread Starter