Circuit of the Americas Formula 1 Race Track - Page 128

StoOgE · #**2541** Posted **Aug 6, 2020, 6:04 PM**

Quote:

Originally Posted by turn1

Circuit of the Americas gets its cash payment from Texas for 2019 F1 expenses
https://www.statesman.com/sports/202...19-f1-expenses

Interesting that this payment is so much later compared to the payments for earlier GPs there (usually a month or two after the GP weekend). Seems they also still haven't been paid for the 2018 USGP after their paperwork snafu.

This is still fantastic news for the potential viability of the track in the short-run at least. Epstein and co are horribly mismanaging the track, but it is what it is and as a F1 and racing fan in general I really would like to not lose the race.

Novacek · #**2542** Posted **Aug 17, 2020, 3:33 PM**

Some documents for the COTA PUD up at tomorrow's ZAP meeting

http://austintexas.gov/cityclerk/boa...tings/54_1.htm

turn1 · #**2543** Posted **Aug 25, 2020, 5:52 AM**

Looks like the PUD & zoning change to Residential and Retail is going through. That + the Epstein exit rumor = very interesting.

GoldenBoot · #**2544** Posted **Aug 25, 2020, 1:22 PM**

Rumor?!? Is Epstein stepping down? Being bought out? Being removed somehow?

the Genral · #**2545** Posted **Aug 25, 2020, 4:39 PM**

Quote:

Originally Posted by GoldenBoot

Rumor?!? Is Epstein stepping down? Being bought out? Being removed somehow?

Pretty sure he's ready and wanting to sell. It may be the only way to get out of the mess he made of this track. Wonder if Bruton Smith would be interested...I know his forte is NASCAR, but hey, if the price is right.

The ATX · #**2546** Posted **Aug 25, 2020, 10:34 PM**

COTA is being set up now as a hurricane evacuation shelter.

turn1 · #**2547** Posted **Aug 26, 2020, 12:54 PM**

They're using it as a staging area near the airport before sending people on to area hotels.

turn1 · #**2548** Posted **Aug 26, 2020, 12:55 PM**

Quote:

Originally Posted by GoldenBoot

Rumor?!? Is Epstein stepping down? Being bought out? Being removed somehow?

Just a rumor I heard from an exec downtown. Vague. Said they had heard he was stepping aside but had no other info, & were asking me if I knew anything about it.

turn1 · #**2549** Posted **Aug 26, 2020, 1:01 PM**

Quote:

Originally Posted by the Genral

Pretty sure he's ready and wanting to sell. It may be the only way to get out of the mess he made of this track. Wonder if Bruton Smith would be interested...I know his forte is NASCAR, but hey, if the price is right.

They've been trying to sell for years. Penske apparently kicked the tires and passed. A racetrack company called IRG (drag strips) kicked the tires and passed. Nobody is stupid enough to pay what COTA wants or needs them to pay. I think Smith would be happy just to see COTA go away rather than buy it out.

This zoning change/PUD is just the latest step in trying to make the property more attractive for sale, imho.

The ATX · #**2550** Posted **Sep 16, 2020, 9:15 PM**

ABJ has a summary of COTA's development plans. It's up for a CC vote tomorrow. The article wasn't behind a paywall when I read it.

https://www.bizjournals.com/austin/n..._news_headline

Quote:

If approved, COTA executives envision a tourist magnet with an 11-story hotel, water park and a children’s amusement park already in the pipeline, said COTA Chairman Bobby Epstein. The rezoning request also makes way for potential projects such as condos, indoor and outdoor sports complexes and retail space.

StoOgE · #**2551** Posted **Sep 16, 2020, 9:53 PM**

Yes, I am sure the retail shopping destination down a 2 lane road in the middle of nowhere is going to bring the tourists.

I love that we have COTA but they have some really stupid ideas.

the Genral · #**2552** Posted **Sep 16, 2020, 10:16 PM**

Quote:

Originally Posted by StoOgE

Yes, I am sure the retail shopping destination down a 2 lane road in the middle of nowhere is going to bring the tourists.

I love that we have COTA but they have some really stupid ideas.

Hehe...Austin FC vs his Austin Bold, Kalahari vs whatever the heck he's proposing. Seems like there is a better, much better option available for everything he comes up with, except what pertains to the track, and I feel the Moody Center will soak up some of his concerts when operational. Oh, and he'll be competing with Typhoon Texas which is also closer to home. The big question is, if he builds it, will they come? But doesn't it sound like he's just floating the idea of these additional attractions to help attract a buyer after it seems its obvious the track itself is not a huge money maker?

turn1 · #**2553** Posted **Sep 16, 2020, 10:55 PM**

Quote:

Originally Posted by StoOgE

Yes, I am sure the retail shopping destination down a 2 lane road in the middle of nowhere is going to bring the tourists.

I love that we have COTA but they have some really stupid ideas.

LOL, yep. So someone's gonna pony up big $$$ to put a hotel in or bordering the flood plain ... and watch it go empty most of the time? Yeah, I'll believe that when I see it. We've been hearing about this supposed hotel development at COTA since before it opened. If it was gonna happen, it woulda happened years ago.

They're trying anything & everything to pump up the value of the place so they might be able to sell it.

turn1 · #**2554** Posted **Sep 16, 2020, 11:02 PM**

Quote:

Originally Posted by the Genral

Hehe...Austin FC vs his Austin Bold, Kalahari vs whatever the heck he's proposing. Seems like there is a better, much better option available for everything he comes up with, except what pertains to the track, and I feel the Moody Center will soak up some of his concerts when operational. Oh, and he'll be competing with Typhoon Texas which is also closer to home. The big question is, if he builds it, will they come? But doesn't it sound like he's just floating the idea of these additional attractions to help attract a buyer after it seems its obvious the track itself is not a huge money maker?

Yep. All of this. And not just the Moody Amphitheater, but also the 16k seat UT arena/concert venue and the covered Austin FC stadium with 20k seats. They can see the writing on the wall.

SproutingTowers · #**2555** Posted **Sep 17, 2020, 2:01 AM**

Quote:

Originally Posted by turn1

Yep. All of this. And not just the Moody Amphitheater, but also the 16k seat UT arena/concert venue and the 20k actual seat, covered Austin FC stadium. They can see the writing on the wall.

Oak View Group already contacted me about the Moody Center who are already figuring out how to book this place outside Texas basketball schedule window. They are thinking big meaning Austin could see events never seen here before. One could imagine be the likes of another iHeartRadio or perhaps MTV VMAs. OVG probably wants to recoup their $380+ mil investment as fast as they can which may hurt the AT&T Center in San Antonio.

The Moody Amphitheater is also partnered with Livenation but limited to 3,000 people where Germania Insurance Amphitheater has a capacity of 14,000. Austin has proved it can handle multiple big acts on the same night and do not see this a problem once COVID goes away. The one that will hurt is Skyline Theater at the Long Center where they are trying to attract the 3,000 crowd music concerts. Some performers require indoors and some don't mind the outdoors, and Germania is a great place where don't feel trapped like in the Erwin Center.

turn1 · #**2556** Posted **Sep 17, 2020, 3:19 AM**

Quote:

Originally Posted by SproutingTowers

Oak View Group already contacted me about the Moody Center who are already figuring out how to book this place outside Texas basketball schedule window. They are thinking big meaning Austin could see events never seen here before. One could imagine be the likes of another iHeartRadio or perhaps MTV VMAs. OVG probably wants to recoup their $380+ mil investment as fast as they can which may hurt the AT&T Center in San Antonio.

The Moody Amphitheater is also partnered with Livenation but limited to 3,000 people where Germania Insurance Amphitheater has a capacity of 14,000. Austin has proved it can handle multiple big acts on the same night and do not see this a problem once COVID goes away. The one that will hurt is Skyline Theater at the Long Center where they are trying to attract the 3,000 crowd music concerts. Some performers require indoors and some don't mind the outdoors, and Germania is a great place where don't feel trapped like in the Erwin Center.

Re: Places where they won't feel trapped, like the Erwin Center, the large outdoor soccer stadium will fill that role pretty nicely as well.

Moody will partner with LN & C3 like you mentioned. LN & C3 are also partnering with OVG on the UT arena.

What I'm seeing is 3 brand new badass venues - 1 smaller outdoor downtown venue w/LN & C3, 1 large indoor downtown venue w/LN & C3, and 1 large outdoor venue close to downtown & rail, with 20K actual covered seats and likely capacity for more unseated attendance. And then there are roughly 6500 actual seats at Germania, way out in BFElroy. I'm not saying COTA won't be able to get a concert at all, but it's gonna be 3rd or 4th in line at best imho.

But those aren't the only things going against them. They've gone a whole racing season with almost no racing revenue, no MERP revenue for 2020 events, no Rolling Stones on Memorial Day, no Willie's Picnic on the 4th, no JMBLYA, and a whole summer with no soccer or concert revenue. Meanwhile, the bills are still coming in, and I've heard that the F1 & MotoGP races in the Americas are already in doubt for 2021, along with Australia....

Not good.

StoOgE · #**2557** Posted **Sep 17, 2020, 8:33 PM**

The new Moody center is also right downtown which is a rare thing these days with many larger sports venues going away from the center of the city. Its 15ish minutes to the airport and tons of really high-end hotels a few blocks away.

It'll be very easy to get big acts and big events in there.

Tornado · #**2558** Posted **Sep 17, 2020, 8:46 PM**

I really hope the track will continue to operate. I don't know that I would have gone to an F1 or WEC race had the track not been built less than two hours away. Maybe Gene Haas or Liberty Media will be interested in purchasing it.

KevinFromTexas · #**2559** Posted **Sep 17, 2020, 9:43 PM**

https://www.bizjournals.com/austin/n..._news_headline

More news on that 11-story hotel/resort at COTA. What are the odds that gets built?

Armybrat · #**2560** Posted **Sep 18, 2020, 12:48 AM**

Quote:

Originally Posted by KevinFromTexas

https://www.bizjournals.com/austin/n..._news_headline

More news on that 11-story hotel/resort at COTA. What are the odds that gets built?

About as good as Elon Musk offering me $5 sq/ft for my 25 acre hay field a half block from CotA.