Ecclestone - Austin Race Set To Be Called Off
Nov 26, 2011 | 11:13 PM
#54
Teamspeed Pro
Joined: Apr 2008
Posts: 23,875
From: Orange County
It is an embarrassment any time you fail to reach your goals or when you don't finish what you start. This is especially true when you do it for the world to see.
If Austin didn't like its deal with Bernie, then it should have said so from the start.
You don't make an agreement and then breach it just because you didn't get the deal you wanted.
I have no more love for Bernie than anyone else. But this idea that he snookers everyone is ridiculous.
The deal was on the table and they signed on the bottom line. End of story.
Now that they have wasted everyone's time and pissed millions down the drain, the finger-pointing won't stop.
That - in my opinion - is the very definition of embarrassment.
If Austin didn't like its deal with Bernie, then it should have said so from the start.
You don't make an agreement and then breach it just because you didn't get the deal you wanted.
I have no more love for Bernie than anyone else. But this idea that he snookers everyone is ridiculous.
The deal was on the table and they signed on the bottom line. End of story.
Now that they have wasted everyone's time and pissed millions down the drain, the finger-pointing won't stop.
That - in my opinion - is the very definition of embarrassment.
Last edited by Barrister; Nov 26, 2011 at 11:24 PM.
Nov 27, 2011 | 10:57 AM
#55
Teamspeed Senior Member
Joined: Apr 2008
Posts: 806
From: Australia
The deal Tavo got from his old mans buddy Bernie and the deal offered to COTA directly was different 
From what I have read the "cota deal" was just a little bit more in the first year but the ramp up rate for year to years was steeper and pushed the whole deal in to un favourable for the circuit owners/Austin.. F1 only happens with gov funding in some form pretty much these days and in a country like the US and in the instance the COTA/City Of Austin don't "need" F1 as much as F1 ultimately need a bigger share of the US market (at a guess at least 65+% of the sponsors on the cars etc would call the US market as vital for their company)... They could still build COTA with none of the corporate/F1/ other fluff required by Bernie to host a F1 GP (while still holding the FIA rating to stage a GP) and still host other international events like MotoGP, V8supercar, GrandAM, Nascar, Indy and even club events no doubt and run on a F**ing lot better ROI..
Bernie has finally met some who is a self made billionaire (like him self) and not some push over (like him self) or governemnt looking for an event on the world stage to promote their neck of the woods at any cost... Red McCombs it seems is a guy not willing to just sign the cheque for what ever Bernie wants while tickling his balls
I am willing to bet that even the Jersey GP will be on shaky ground after a few years and will be looking to re negotiate their 10yr contract soon or just end up paying Bernie(or who ever gets in charge when the FOTA get their shit together and realise if they act as one they have the real power on the negotiating table with Bernie/CVC)
From what I have read the "cota deal" was just a little bit more in the first year but the ramp up rate for year to years was steeper and pushed the whole deal in to un favourable for the circuit owners/Austin.. F1 only happens with gov funding in some form pretty much these days and in a country like the US and in the instance the COTA/City Of Austin don't "need" F1 as much as F1 ultimately need a bigger share of the US market (at a guess at least 65+% of the sponsors on the cars etc would call the US market as vital for their company)... They could still build COTA with none of the corporate/F1/ other fluff required by Bernie to host a F1 GP (while still holding the FIA rating to stage a GP) and still host other international events like MotoGP, V8supercar, GrandAM, Nascar, Indy and even club events no doubt and run on a F**ing lot better ROI..Bernie has finally met some who is a self made billionaire (like him self) and not some push over (like him self) or governemnt looking for an event on the world stage to promote their neck of the woods at any cost... Red McCombs it seems is a guy not willing to just sign the cheque for what ever Bernie wants while tickling his balls
I am willing to bet that even the Jersey GP will be on shaky ground after a few years and will be looking to re negotiate their 10yr contract soon or just end up paying Bernie(or who ever gets in charge when the FOTA get their shit together and realise if they act as one they have the real power on the negotiating table with Bernie/CVC)
Nov 27, 2011 | 08:00 PM
#57
Teamspeed Rookie
Joined: Mar 2008
Posts: 22
I live in austin and have a little insight into this. how much is truth I can't guarantee. The relationship between tavo and the investor group went south. Red mcombs is a brilliant self made billionaire but most of all he is fair and honest. most importantly doesn't need the money. Rumor is tavo was more trouble than help. I heard they offered him a fortune to walk away and he won't.
Nov 27, 2011 | 08:06 PM
#58
Teamspeed Pro
Joined: Apr 2008
Posts: 23,875
From: Orange County
The deal Tavo got from his old mans buddy Bernie and the deal offered to COTA directly was different From what I have read the "cota deal" was just a little bit more in the first year but the ramp up rate for year to years was steeper and pushed the whole deal in to un favourable for the circuit owners/Austin.. F1 only happens with gov funding in some form pretty much these days and in a country like the US and in the instance the COTA/City Of Austin don't "need" F1 as much as F1 ultimately need a bigger share of the US market (at a guess at least 65+% of the sponsors on the cars etc would call the US market as vital for their company)... They could still build COTA with none of the corporate/F1/ other fluff required by Bernie to host a F1 GP (while still holding the FIA rating to stage a GP) and still host other international events like MotoGP, V8supercar, GrandAM, Nascar, Indy and even club events no doubt and run on a F**ing lot better ROI..
Bernie has finally met some who is a self made billionaire (like him self) and not some push over (like him self) or governemnt looking for an event on the world stage to promote their neck of the woods at any cost... Red McCombs it seems is a guy not willing to just sign the cheque for what ever Bernie wants while tickling his balls
I am willing to bet that even the Jersey GP will be on shaky ground after a few years and will be looking to re negotiate their 10yr contract soon or just end up paying Bernie(or who ever gets in charge when the FOTA get their shit together and realise if they act as one they have the real power on the negotiating table with Bernie/CVC)
From what I have read the "cota deal" was just a little bit more in the first year but the ramp up rate for year to years was steeper and pushed the whole deal in to un favourable for the circuit owners/Austin.. F1 only happens with gov funding in some form pretty much these days and in a country like the US and in the instance the COTA/City Of Austin don't "need" F1 as much as F1 ultimately need a bigger share of the US market (at a guess at least 65+% of the sponsors on the cars etc would call the US market as vital for their company)... They could still build COTA with none of the corporate/F1/ other fluff required by Bernie to host a F1 GP (while still holding the FIA rating to stage a GP) and still host other international events like MotoGP, V8supercar, GrandAM, Nascar, Indy and even club events no doubt and run on a F**ing lot better ROI..Bernie has finally met some who is a self made billionaire (like him self) and not some push over (like him self) or governemnt looking for an event on the world stage to promote their neck of the woods at any cost... Red McCombs it seems is a guy not willing to just sign the cheque for what ever Bernie wants while tickling his balls
I am willing to bet that even the Jersey GP will be on shaky ground after a few years and will be looking to re negotiate their 10yr contract soon or just end up paying Bernie(or who ever gets in charge when the FOTA get their shit together and realise if they act as one they have the real power on the negotiating table with Bernie/CVC)
The deal was made. Plain and simple.
How has Bernie ripped anyone off here? There are sophisticated and experienced businessmen on both sides. I think you give the little man too much credit.
You don't get this far into a project and then just flush it down the toilet. That is unacceptable no matter how rich, famous or stubborn you might be. Who benefits from that??
Sorry man, but your post sounds like little more than sour grapes because Austin couldn't get the job done.
Last edited by Barrister; Nov 27, 2011 at 08:09 PM.
Nov 28, 2011 | 12:53 AM
#59
Teamspeed Senior Member
Joined: Apr 2008
Posts: 806
From: Australia
Not too concerned about F1 in Austin to be truthful mate was considering to head there if the V8supercars made it but not going to lose any sleep over if it all falls through as there is more places wanting races and the calendar can only be so long .. I am not saying Bernie is just ripping anyone off, but he is the ringmaster of the f1 circus..
