US F1 Update

[Don]

AutoWeek.com update:

" Formula One's latest opportunity to return to the United States could feature New York City as a backdrop, according to a report Tuesday in the Jersey Journal.

The plan--submitted by a Jersey City, N.J.-funded tourism agency called Destination Jersey City--calls for F1 to race in Liberty State Park as soon as 2012. The promotional materials include a proposed design for a 3.6-mile road course, and for at least a five-year contract to host a race.

"With the incredible backdrop of the New York City skyline, selecting Jersey City for the 2012 Grand Prix Auto Race Circuit will not only boost ticket sales as the Grand Prix returns to the United States, but will provide striking television footage," the proposal said. It also included the idea to hold the race at night, similar to the Singapore GP.

However, the concept is meeting strong resistance, according to the Jersey Journal.

"People come to [the park] to seek a haven, oasis, refuge and sanctuary, and such a Grand Prix racing event that needs all park roads is contrary to the spirit and essence of an urban open-space park," said the president of the Friends of Liberty State Park in a letter written to Jersey City Mayor Jerramiah T. Healy.

"This was a response to an overture made by Formula One and Jersey City is one of several cities they are pursuing," Healy said in a statement. "There have been a few preliminary conversations, and this is very much in the exploratory phase. However, this may not be something that is in the best interest of Jersey City or Liberty State Park."

The United States has not hosted a Grand Prix since the 2007 event at Indianapolis Motor Speedway. Interestingly, former IMS boss Tony George was spotted at the most recent F1 race, in China, fueling speculation that he is working to find a way to revive that race. "


AutoWeek | Updated: 05/04/10, 11:55 am et

[Don]

From AutoWeek.com, might still be a future for F1 in the US ?

ARTICLE:

" Formula One's future in the United States is once again on the front burner, and the latest rumblings suggest that a most unlikely venue could become host to the first U.S. Grand Prix since F1 last raced at Indianapolis Motor Speedway in 2007.

According to a letter written by Ari Strauss--president of Monticello Motor Club (MMC) in upstate New York--and leaked Thursday to AutoWeek, the country-club-style racing venue is talking to F1 boss Bernie Ecclestone about bringing the Grand Prix circus to the facility at the foot of the Catskill Mountains. Monticello Motor Club is the closest motorsports venue to New York City; it is 90 minutes by car from Manhattan, and there is an international airport 10 minutes away.

According to the letter, Strauss and MMC chairman Bill McMichael met with Ecclestone a few months ago to talk about hosting a Grand Prix, with an eye toward a long-term, 10-year deal. Hermann Tilke, the architect of F1's modern venues, has already visited MMC and apparently determined that the facility is capable of hosting a Grand Prix, although some expansion and modifications would be necessary.

Strauss also said that he and McMichael are working to garner support from local, state and federal politicians and organizations, presumably to secure the financing necessary to make their dream come true.

However, the letter notes that “securing F1 is like winning the Olympics, competition is fierce, and this is not a done deal.”

In its current guise, MMC's fast track is 4.1 miles long and includes 22 unique turns and 12 distinct configurations, with more than 1.5 miles of straights. It was designed by driver Brian Redman and Bruce Hawkins, a track architect and engineer.

The Full Letter:

Dear member,

Within the next day, you may read that Formula One is planning a return to the United States and has their sights on a special location in New York: Monticello Motor Club.

A few months ago, [MMC chairman] Bill McMichael and I met with Bernie Ecclestone, President/CEO of Formula One Management (FOM), and discussed the terms for an exclusive 10-year United States Grand Prix to be hosted at MMC. Shortly thereafter, Hermann Tilke, the chief engineer and circuit designer for F1, spent time at MMC and confirmed that our track and surrounding properties, with some expansion and minor track modifications, is an excellent location for a Grand Prix. Since receiving a letter of understanding from FOM confirming their hope to bring the U.S. Grand Prix to Monticello, Bill and I have continued to secure the backing and support of local, state, and federal politicians and organizations.

If F1 comes to Monticello, our intent is to preserve MMC as, first and foremost, a private country club. Obviously, demand will accelerate as well as the initiation fee for new members. But securing F1 is like winning the Olympics, competition is fierce, and this is not a done deal. While the prospect of F1 at MMC is exciting, we remain focused on our core business: the club and its members.

At this juncture, we are simply honored that F1 is considering our venue as the future, exclusive home for the U.S. Grand Prix. It would transform the region into one of the motorsports capitals of the world, bring thousands of jobs to Sullivan County, inject over $100M each year into the local economy, and place your private club in the company of famous racing circuits like Monza and Spa. "

Warmest regards,

Ari

[Don]

First there was a return to Indy, then New York City, then across the river in NJ within sight of New York City, now Austin Texas, which with the financial backing just might be a return of F1 to the US:

" U.S. Grand Prix heads to Austin in 2012, Ecclestone says: "

" Bernie Ecclestone has used his Web site to announce that a United States Grand Prix will be held in Austin, Texas, from 2012 to 2021. It will be the first F1 event held in the United States since the 2007 U.S. Grand Prix in Indianapolis. "

http://www.autoweek.com/article/20100525/F1/100529836

[Wayne Maybury]

Bernie would hold the race just about anywhere as long as he pockets enough out of the deal. It would be very interesting to be able to get the real low down on how much each venue is offering to guarantee Bernie. I love F1 but I am fed up with Bernie extracting every last cent out of each and every race.

Wayne

[Don]

Texas F1: Q & A reported on AutoWeek.com

" This week's announcement that a United States Grand Prix will be run in Austin, Texas, in 2012 came as a huge surprise, even to the sport's insiders. But race promoter Tavo Hellmund has been dealing with Bernie Ecclestone for more than two years while trying to put the deal together.

Hellmund is adamant that the funding is in place to build the track. It is now known that the state government will provide $25 million per year to help with the expenses of running the event. "


http://www.autoweek.com/article/20100528/F1/100529787

[Wayne Maybury]

The comments were more interesting to read than the article. Most people seem to share my opinion of Bernie being a money grabbing low life. I particularly enjoyed the comments referring to him as an little elf. It appears that few people believe that an F1 track will even be built in Austin.

Wayne

[Don]

Two articles in Aug 26th AutoWeek.com

" Financial documents released in Texas this week show that Full Throttle Productions, the group building a Formula One track in Austin, expects to collect $7 million in revenue from naming rights, plus $17 million from non-F1 races and property rental. Full Throttle promoter Tavo Hellmund also requested $25 million annually from the State of Texas. Full Throttle battled the state in court to keep the papers private, but Texas attorney general Greg Abbott released all but a few sensitive documents.

Papers released earlier this summer revealed that the company could employ up to 1,500 workers during construction of the track and 1,200 on race weekend. Full Throttle also claimed the event will create $300 million in revenue for the area and that the track will operate 250 days per year.The proposed circuit will be located 20 miles from Austin on 900 acres of land. Hellmund said recently that the layout will feature 20 corners spread over 3.2 miles of the “natural terrain road course." "

" U.S. Grand Prix promoter Tavo Hellmund says that his yet-to-be constructed racetrack near Austin will accommodate up to 130,000 to 140,000 fans. According to local newspaper the American-Statesman, Hellmund made the comment during a speech that was part of an event organized by the Urban Land Institute at downtown Austin’s Headliners Club.

It will be the biggest thing Austin has ever had,” Hellmund said. He claimed that the track’s grandstands might accommodate 50,000 fans, while the rest of the attendees could enjoy the race from various open spaces around the facility. Hellmund also said that attendance will be affected substantially if Formula One adds Mexican drivers to its field.

“I could see 30,000 or 40,000 people from Latin America coming,” he said before revealing that the track will feature “four real passing zones.” As for the track’s construction time line--work is planned to begin in December--Peter Wahl, a director of the Hermann Tilke-owned circuit-design company, said that the project is doable in time for a race in 2012. “[The time issue] does not frighten us,” he said.

Exactly when the race will take place remains unknown, but Hellmund assured his audience that it will not be held in the scorching-hot months of July or August. "

[Wayne Maybury]

Full Throttle also claimed the event will create $300 million in revenue for the area

That is rather interesting as the number normally kicked about for the Canadian Grand Prix in Montreal is $75M to $100M. This was the amount used to justify the various government incentives and includes all of the spin off revenue for hotels, restaurants, etc. I would guess that Full Throttle's estimate of $300M is slightly exaggerated.

Wayne

[Seagull81]

Everything is Bigger in Texas including the BS.

[PatBuckley]

BS is right.

[Don]

" U.S. Grand Prix promoter Tavo Hellmund has finally shown the plans for the Tilke-designed track planned for Austin, Texas. Hellmund showed the plans to the city newspaper, the Austin American-Statesman, which has in general been somewhat skeptical. Hellmund told the paper, "It should be nice. I think drivers and fans should like it."

" The track is 3.4 miles long and features an elevation change of 133 feet. "

http://www.autoweek.com/article/2010...#ixzz0yI238765

[Don]

" Most race fans expect to sit in traffic a bit while getting into and out of their favorite race venue--two or three hours is almost normal--but wait times at the proposed Austin Formula One venue in 2011 are expected to be an astounding 12 hours "

http://www.autoweek.com/article/20100909/F1/100909880

[Wayne Maybury]

"Most race fans expect to sit in traffic a bit while getting into and out of their favorite race venue--two or three hours is almost normal"

This is one of the features that I really like about the Canadian Grand Prix F1 race in Montreal. The track is on an island in the middle of the St. Lawrence River just minutes from down town Montreal by the Metro (subway). There is minimal waiting to get in and no more than a half hour or so to get out after the race. The Metro runs in both directions from Montreal and from the South Shore of the river so getting in and out is a breeze. Parking on the island is limited to emergency and service vehicles as well as for some workers and of course VIPs. Virtually all race fans use the Metro.

Wayne

[Don]

First time I had seen an article regarding the Texas F1 track in a business publication: Bloomberg's Business Week

" Formula 1 Racing Speeds to Texas:"

" The state is paying $25 million to bring Formula 1 to Austin—a move that's not sitting well with, for example, laid-off teachers "

" Texas, which is staring at an estimated $15 billion two-year deficit, plans to commit $250 million in state funds to promote Formula 1 auto racing over the next decade. The international racing series showcases the world's fastest cars—low-slung, sophisticated machines designed to rigorous specifications (hence the word "formula") that can clock speeds of more than 200 miles per hour. Although hugely popular across much of the globe, the sport never really caught on in the States, and F1 officials stopped holding races in the U.S. in 2007 "

Complete Article:

Formula 1 Racing Speeds to Texas - BusinessWeek

[Don]

AutoWeek.com


" The new U.S. Formula One Grand Prix in Austin, Texas, has received a preliminary date of June 17, 2012--right near the start of summer and presenting a hot climate for race fans who wish to attend. Temperatures in Austin in June easily hover around the 100-degree mark. "


Formula One: Austin Grand Prix is set for June 17, 2012 - AutoWeek