Circuit of the Americas Development Updates

[We vs us]

Looks like the initial proposed cut by Abbott was even larger. F1 was able to claw back some of the funding, though, by the time the story hit the press.

http://www.bizjournals.com/austin/ne...dies-even.html

[the Genral]

Mayor Adler, who knows Austin stands to lose a bunch, monetary and notoriety, is looking into ways to keep the 2016 on track, pun intended. It isn't over yet. The COTA situation did get mention on the Fox News webpage. I have a feeling this will be settled in the courts one way or another. Pretty sure citizens of Austin and the city itself will not pony up the difference.

[electricron]

Originally Posted by the Genral

Mayor Adler, who knows Austin stands to lose a bunch, monetary and notoriety, is looking into ways to keep the 2016 on track, pun intended. It isn't over yet. The COTA situation did get mention on the Fox News webpage. I have a feeling this will be settled in the courts one way or another. Pretty sure citizens of Austin and the city itself will not pony up the difference.

COTA needs to find an American corporate sponsor to host the race to make up for the shortfalls. All the bowl games, all the pro leagues, and just about all the other sports elegible for this state funding have done so. I believed I stated COTA shouldn't rely solely on state funding to host the race years ago, and I still believe so.

[drummer]

DELL Circuit of the Americas
AT&T Circuit of the Americas
American Airlines Circuit of the Americas

Just trying to get used to it, I guess.

[hookem]

Originally Posted by drummer

DELL Circuit of the Americas
AT&T Circuit of the Americas
American Airlines Circuit of the Americas

Just trying to get used to it, I guess.

I think this has been tried. F1 gets most of the corporate money sponsorships, anyway, for track signage and anything visible on the TV broadcast. So there wouldn't be much left for COTA to use towards the sanctioning fee. They could sell the circuit naming rights, but that would probably be all, and it wouldn't be nearly enough.

I believe all F1 races receive government money, except for Monaco which they have historically not charged a sanctioning fee. The proposed New Jersey race was supposed to have private money covering the sanctioning fee (and a better deal than $25M/year), but you can see how far that got.

[jbssfelix]

Originally Posted by hookem

I think this has been tried. F1 gets most of the corporate money sponsorships, anyway, for track signage and anything visible on the TV broadcast. So there wouldn't be much left for COTA to use towards the sanctioning fee. They could sell the circuit naming rights, but that would probably be all, and it wouldn't be nearly enough.

I believe all F1 races receive government money, except for Monaco which they have historically not charged a sanctioning fee. The proposed New Jersey race was supposed to have private money covering the sanctioning fee (and a better deal than $25M/year), but you can see how far that got.

Actually, I'm pretty sure this isn't even allowed with F1. You're required to use all the F1 title sponsors (Pirelli, Emirates, Rolex, DHL, etc) I believe. Could be wrong.

[The ATX]

Here's a decent article by Forbes (I can't believe I typed that.) that explains how F1 basically chokes the financial life out of race organizers/tracks. This would be why races in general don't seem to last at the same location for long periods of time.

http://www.forbes.com/sites/csylt/20...-owners-hands/

[hookem]

Petition - https://www.change.org/p/greg-abbott...ter_responsive

Twitter hashtag #SaveCOTA

[electricron]

Originally Posted by jbssfelix

Actually, I'm pretty sure this isn't even allowed with F1. You're required to use all the F1 title sponsors (Pirelli, Emirates, Rolex, DHL, etc) I believe. Could be wrong.

Well, where are the American based corporate sponsors that could support both F1 and COTA?

There are reasons why F1 has been dropping tracks forever. Why did the France, Netherlands, Germany, and previous US Gran Prix disappear from the F1 schedule? There's even talk that Monza may be dropped soon. The simple answer is that the race event doesn't pay of itself.

[We vs us]

The saga continues . . .

Circuit hasn’t paid F1 hosting fees, is given extra time

http://www.mystatesman.com/news/spor...-extra-/npPyQ/

Interesting to note:

"Meanwhile, Ecclestone has said he is looking at alternative venues in the United States and is considering a race in California. He also has a reserve plan as a Grand Prix in the oil-rich nation of Azerbaijan will debut in 2016. So even if there is no Grand Prix in the United States next year, F1 will not be down a race."

First time for Ecclestone to let alternate venues drop publicly, I believe . . .

[Tech House]

Originally Posted by We vs us

He also has a reserve plan as a Grand Prix in the oil-rich nation of Azerbaijan will debut in 2016. So even if there is no Grand Prix in the United States next year, F1 will not be down a race."

Azerbaijan and F1 are a perfect match --- pretentious, ostentatious, and myopic.

[The ATX]

Some good news for fans of Austin's F1 race. The CC voted to support additional state incentives for the race. I don't know why four of the CC members would vote against it. It's state money that would otherwise go to another city. Also, Bernie apparently said the Austin race is a go for 2016.

http://www.bizjournals.com/austin/ne...ncentives.html

[Spaceman]

Originally Posted by Tech House

Azerbaijan and F1 are a perfect match --- pretentious, ostentatious, and myopic.

Wow, three things I like!!!

[Spaceman]

Originally Posted by Spaceman

Wow, three things I like!!!

The "Hatesman" continues to report bad news on COTA..Since this rag is now printed in SA and Houston should I be suspicious about the editorial content and the anti-Austin bias. It seems the AAS prefers the unwashed ACL crowd to the affluent F1 fans.

[The ATX]

The race is on! Taylor Swift will be the musical guest, and COTA is making some changes to the parking and lowering prices.

[The ATX]

The X Games are bailing from Austin after this year and are not going to finish out the fourth year of their deal with COTA.

http://www.statesman.com/news/sports...ef=cbTopWidget

[jbssfelix]

Originally Posted by The ATX

The X Games are bailing from Austin after this year and are not going to finish out the fourth year of their deal with COTA.

http://www.statesman.com/news/sports...ef=cbTopWidget

Gotta love our Governor......

[We vs us]

Originally Posted by jbssfelix

Gotta love our Governor......

Interesting wording in the article. They left "due to fears" of losing funding, not an actual loss of funding. They either knew something definite was coming down from Abbot's office, or they're using this as an excuse to move the event to Charlotte or wherever.

[Novacek]

Originally Posted by We vs us

Interesting wording in the article. They left "due to fears" of losing funding, not an actual loss of funding. They either knew something definite was coming down from Abbot's office, or they're using this as an excuse to move the event to Charlotte or wherever.

Wasn't the original deal always a 3 + (possible 1)?

Here's one reference.

http://www.huffingtonpost.com/2013/0...n_3610438.html


Espn seems to back that up

"With the agreement between current summer event partner, Circuit of The Americas in Austin, Texas, concluding in 2016"

http://xgames.espn.go.com/xgames/aus...host-city-2017

[We vs us]

Originally Posted by Novacek

Wasn't the original deal always a 3 + (possible 1)?

Here's one reference.

http://www.huffingtonpost.com/2013/0...n_3610438.html


Espn seems to back that up

"With the agreement between current summer event partner, Circuit of The Americas in Austin, Texas, concluding in 2016"

http://xgames.espn.go.com/xgames/aus...host-city-2017

Hm. Per the Statesman article, the deal was a four year deal, through 2017. Up for renewal (or a new venue) in 2018.