Posted Mar 1, 2011, 7:25 AM
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Join Date: Aug 2009
Location: The ATX
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Beneath the Hype of F1 Austin: Part 1
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By Flood1 - Tuesday January 25, 2011 - 2:32 am .
1074 Views | 1 Comment | 1 Votes
Building a Formula One facility and promoting a Formula One event is a very complicated matter. Back in May when Bernie told the world that Formula One was coming to Austin, we were all quite excited. Especially exciting was the prospect of having the first “real” F1 circuit in the US since Watkins Glen.
But soon after the initial party was over, there was the realization that a very difficult task lay ahead. When sober minds started considering all of the things that must be done to pull this rabbit out of the hat, the exhilaration turned to a measured panic.
Initialization of the Project -
The processes involved in managing a project of this nature are well understood. All projects have the same elements, but some projects have very special circumstances that must be considered. I have been following this closely and there are some aspects of this project’s implementation that I am very comfortable with, and some that I am not.
The fact that Tavo Hellmund and his group Full Throttle Productions (FTP) secured a 10 year contract with Formula One Management (FOM) is in itself a remarkable accomplishment. Several years of preparation preceded the announcement, and the success is a testament to Tavo’s hard work and perseverance. He used his contacts in F1 to his advantage and never stopped pursuing his dream in spite of the odds against him.
Back in Texas, he shared his dream with lawmakers at the very top of the political hierarchy. He brought the Governor, Rick Perry, on board as well as State Comptroller Susan Combs. With them came legislation (SB 1515), introduced by Senator Kirk Watson, to include F1 as a major event, thus making the event eligible for funds from the Texas Major Events Trust Fund. This may be worth as much as $25 million per year: very good work from FTP.
Choosing the architectural firm that would lead the design effort had taken place well before the FOM contract had been signed. There are only two circuit designers with the credentials necessary to design F1 circuits: Apex Circuit Designers, Ltd of Buckinghamshire, UK and Tilke GmbH of Aachen, Germany.
Tilke got the nod. The project schedule is very demanding, and FTP needed a design team that knew the ropes. Tilke knows where every receptacle, waste bin, and toilet must be placed. Their design team is intimately familiar with every detail of the FIA’s requirements for homologation of a circuit. There was no other choice.
Tilke is not highly regarded by many F1 fans, but FTP took control over the design and influenced the outcome, as is their right: they are paying the bills. The result is a very good circuit layout placed on a property that has interesting topography.
Early on the FTP team and their partners had identified several potential properties in the Austin area that would be suitable. They obtained options on some of these properties two years ago, although exactly where is not clear. However, the deal was struck with the owners of the Wandering Creek development. The Wandering Creek housing development project had its share of problems, and those problems were compounded by the bursting of the housing bubble. One of the financial partners in the Formula 1 United States team is Bobby Epstein and his firm Prophet Capital. It is no coincidence that he was also an investor in Wandering Creek. The acquisition of property for the circuit was now complete.
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http://www.austinpost.org/content/austin-gp-project-management-part-1
Last edited by JoninATX; Mar 1, 2011 at 9:58 AM.
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