Casey19 Posted October 3, 2011 Report Share Posted October 3, 2011 Formula One: Paper reports that work slows at Austin site; are changes looming for promoter Tavo Hellmund? New questions have arisen regarding the Formula One Circuit of the Americas near Austin, Texas, after the Austin American-Statesman newspaper on Thursday reported a noticeable slowdown of work at the track site--and a possible significant change in the effort's promoter or management. The newspaper reports that promoter Tavo Hellmund--the man behind the 2012 U.S. Grand Prix since he began pitching the project's launch about three years ago--called Texas state comptroller Susan Combs on Monday to inquire about potential effects of a change in the event's management or race promoter. The key issue, if such a change occurs, appears to be the track's eligibility to receive $250 million over the next 10 years from the Texas Major Events Trust Fund, according to the Austin paper. The report says Combs sent a letter to Formula One commercial Bernie Ecclestone on Tuesday that says the race will still be eligible to receive the incentives. It also says that Hellmund still holds the exclusive rights to hold the race because neither Ecclestone nor presumably Hellmund has transferred them to the track's major investors. The newspaper says it tried to contact Hellmund, Ecclestone and major investor Red McCombs via telephone calls and email to discuss the issue. The calls and emails were not returned. Either way, the circuit needs to be completed within about one year if it is to host F1's return to the United States on Nov. 16-18, 2012. Read more: http://www.autoweek.com/article/20110930/F...0#ixzz1Zl360cVU Link to comment Share on other sites More sharing options...
lenny66 Posted October 4, 2011 Report Share Posted October 4, 2011 Red McCombs should have invested some of his millions in a high bank 1/2 mile facility near San Antonio. Just saying. Link to comment Share on other sites More sharing options...
Casey19 Posted October 4, 2011 Author Report Share Posted October 4, 2011 When they sneeze I am afraid lots of people will catch their cold! Just saying Link to comment Share on other sites More sharing options...
txtom Posted October 4, 2011 Report Share Posted October 4, 2011 Red McCombs should have invested some of his millions in a high bank 1/2 mile facility near San Antonio. Just saying Red was approached a few years ago about that very subject. In just a few words, he stated there is no future in that level of racing. Link to comment Share on other sites More sharing options...
direct-flo Posted October 4, 2011 Report Share Posted October 4, 2011 Red McCombs should have invested some of his millions in a high bank 1/2 mile facility near San Antonio. Just saying Red was approached a few years ago about that very subject. In just a few words, he stated there is no future in that level of racing. I figured that all future NASCAR drivers would just be born in a car. No need to move up thru our local tracks to the big time. I am wondering if he meant there is no monetary future for him in that level of racing. Link to comment Share on other sites More sharing options...
JamesHigdon Posted October 4, 2011 Report Share Posted October 4, 2011 I figured that all future NASCAR drivers would just be born in a car. No need to move up thru our local tracks to the big time. I am wondering if he meant there is no monetary future for him in that level of racing. You nailed it... Link to comment Share on other sites More sharing options...
lenny66 Posted October 4, 2011 Report Share Posted October 4, 2011 I figured that all future NASCAR drivers would just be born in a car. No need to move up thru our local tracks to the big time. I am wondering if he meant there is no monetary future for him in that level of racing. You nailed it... That's too bad. That's the kind of thinking that closed SAS. Land developers saw $$$ in that there dirt, they just didn't do their homework and it turned out to be a "BUST" !!!Lenny66 Link to comment Share on other sites More sharing options...
jwmbishop Posted October 4, 2011 Report Share Posted October 4, 2011 ROI is everything to a project (ANY project). The ROI is just not there for small tracks to cover the HUGE start up expenses. For someone who is okay with a 20-25 year recovery - no problem. But as I learned the hard way - the rule of 72 is a good formula to see this - you can't justify longer terms - when you do get you money out it's worth less. 10-15 years is more acceptable. Basically if it takes you 20 years to get to zero (mortgage paid off - or even the equivalent of cash returned exclusive of interest paid) your margin is approximately 3% - but inflation runs 5 so you have LOST money value wise. The only way to make it a positive is to improve net profit to get the money back in 10 (approx 7% net ROI - small but ahead of inflation) - and you end up priced out of the market by increasing gross income or cutting corners and expenses. Small tracks do not have the "other" percs - such as licensing deals, sponsorships etc. (on a slarge a scale as needed to keep ahead of inflation) so it is difficult if not impossible to pay the bills and see a profit withing the mortgage payment period. SO you basically end up working for free until all obligations are paid and then have an asset that savvy investors shy away from... running a small track is for love not money. Link to comment Share on other sites More sharing options...
JamesHigdon Posted October 5, 2011 Report Share Posted October 5, 2011 The Irony is in this case Red turned down a small investment in a track that had and indeed could make money just to dump a large amount of money in an organization run by deviants, divas and socialists. Link to comment Share on other sites More sharing options...
lenny66 Posted October 6, 2011 Report Share Posted October 6, 2011 The Irony is in this case Red turned down a small investment in a track that had and indeed could make money just to dump a large amount of money in an organization run by deviants, divas and socialists. I heard that !!! Lenny66 Link to comment Share on other sites More sharing options...
direct-flo Posted October 6, 2011 Report Share Posted October 6, 2011 Any idea on what the ticket prices are going to be? Link to comment Share on other sites More sharing options...
JamesHigdon Posted October 6, 2011 Report Share Posted October 6, 2011 For the F-1 race...I'm pretty sure Bernie Ecelstone's daughter's mansions don't buy themselves... Link to comment Share on other sites More sharing options...
direct-flo Posted October 6, 2011 Report Share Posted October 6, 2011 I was looking at some prices for the Canadian Grand Prix 2012 Looks like they range from 269.00, 449.00 and 560.00 for a 3 day ticket (Bronze, Silver and Gold) General Admission: thought I read that this was for standing only Friday: 43.00 Saturday: 69.00 Sunday: 94.00 3 day: 121.00 Wondering how the US race will compare. Link to comment Share on other sites More sharing options...
supertx Posted October 7, 2011 Report Share Posted October 7, 2011 I was told ranger returned and it is back to normal Link to comment Share on other sites More sharing options...
PAPosse Posted October 7, 2011 Report Share Posted October 7, 2011 You're not going to be able to see anything in the stands - might as well walk around the infield and check it out from various points. Link to comment Share on other sites More sharing options...
HiTech Posted October 7, 2011 Report Share Posted October 7, 2011 i never thought you could see much at any race ..on reason why i really don't like road racen Link to comment Share on other sites More sharing options...
hray Posted October 7, 2011 Report Share Posted October 7, 2011 i never thought you could see much at any race ..on reason why i really don't like road racen On that track you should be able to stand at the apex of turn 1 (if they'll let you stand there) and see the whole track (with binoculars). Link to comment Share on other sites More sharing options...
lenny66 Posted October 7, 2011 Report Share Posted October 7, 2011 When I attended the F1 races in Belgium, we stood at the top of the front straight and watched the cars turn right and they were out of sight until you saw them coming back down the front straight again. The infield had more advantageous spots for viewing more of the race but it was more $$$ to be on the inside the track. It was a spectacle none the less. The front straight at Spa Francorchamps is actually part of the Belgian Autobahn. So I can say that I drove my car at the Spa F1 track. Lenny66 Link to comment Share on other sites More sharing options...
Hrodder Posted October 7, 2011 Report Share Posted October 7, 2011 The Irony is in this case Red turned down a small investment in a track that had and indeed could make money just to dump a large amount of money in an organization run by deviants, divas and socialists. Amen! Link to comment Share on other sites More sharing options...
gundogC3 Posted October 7, 2011 Report Share Posted October 7, 2011 Buy a helicopter. Problem solved. Link to comment Share on other sites More sharing options...
jwmbishop Posted October 7, 2011 Report Share Posted October 7, 2011 I went to long Beach twice in the 80's - both times in a room in the Hotel overlooking the hair pin. GREAT spots - for the weekend the hotel had a license deal with the promotors that trackside rooms required a general admission. But even the cost of GAs, and 2 balcony suite spread among 10 guys was NOT bad - it was like 200 (plus meals) each for all three days.. The whole track WAS visable in some suites with binocs - ours was on the fourth floor so we could not see about 15% of the track - but all of the pit area - and the hairpin was from 212 mph to 30 hard left and back up through all gears - room was over the accelerating side and the cars were close enough that we could feel unburned fuel in the air. Worth it! Link to comment Share on other sites More sharing options...
jwmbishop Posted October 11, 2011 Report Share Posted October 11, 2011 Now there is talk of a Nationwide race at the F1 track.... Link to comment Share on other sites More sharing options...
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