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Posted May 4, 2012, 6:43 PM
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Join Date: Oct 2010
Posts: 762
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From the Smith/AutoWeek article:
http://www.autoweek.com/article/20120504/F1/120509920
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Indeed, judging from the executive staff, Circuit of the Americas is convinced that a major event is a major event, be it auto racing or horse racing
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Racing experience? None. It’s not needed, apparently.
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That plan presumably included the ouster of the man who did have motorsports experience, Tavo Hellmund, who undeniably did the heavy lifting in bringing F1 to Texas. He cut the deal with longtime family friend Ecclestone; he designed, engineered and named the track; he signed both Australian V8 Supercars as well as MotoGP motorcycle racing to race at the facility, and he was the voice, and the face, of F1 in Texas.
Then, a year ago, friction developed between Hellmund, chief investor Bobby Epstein and McCombs, which has never been explained entirely. Epstein and partners let the deal with Ecclestone lapse, again for no thus-far-explained reason, and Epstein then managed a last-minute, Hail Mary deal with Ecclestone, by all accounts at a less favorable rate than Hellmund’s original contract. There may be some reason for this other than squeezing Hellmund out of the deal he created, and perhaps it will come out in the lawsuit Hellmund has filed. But Ecclestone himself has said that he trusts Hellmund, who “picked the wrong partners,” so it seems unlikely Epstein wants Ecclestone testifying on his behalf.
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Another fallout from the management mess is the apparent loss of the $25 million Circuit of the Americas would have received in advance of the race from a state fund that gives a subsidy to promoters of a one-time annual event, such as the Super Bowl. Hellmund cut that deal personally, but it became so tainted and such a political football during the clash between Epstein and Hellmund that the state of Texas now says it might pay Circuit of the Americas some money from the fund, but only after the race—and the amount would be tied directly to the tax revenue the event generates.
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To say Circuit of the Americas is ambitious in pricing its tickets and PSLs is an understatement. The most expensive seat at the Monaco Grand Prix (not including the Paddock Club for serious high-rollers) is in the premium “gold” section—and costs $657. The top seat in the only permanent grandstand at Circuit of the Americas, on the front straight, is $1,250, and that does not include the $5,500 PSL or parking. The least expensive seat at Monaco, in the “bronze” section, is $303. At Circuit of the Americas, it’s $375 in the turn 15 grandstand, and that does not include the $1,500 PSL.
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Selling a personal seat license for a spot on an aluminum bench on a temporary grandstand is unprecedented in motorsports, but if it works, the Circuit of the Americas staff will look like a bunch of geniuses.
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And granted, while the “season pass” includes the Australian supercars, you have to wonder how many fans would come back for that race to get some value out of their PSL and ticket. According to the Circuit of the Americas projection for economic impact: “The Circuit of the Americas-hosted Formula One United States Grand Prix will attract as many as 300,000 people each Grand Prix weekend, with an estimated 80 percent of attendees coming from outside Texas.”
If 80 percent are coming from outside Texas, how many will want to board a plane or make the drive to return for Australian supercars? It’s a complete wildcard and could depend on scheduling. If the race is run during an off weekend for NASCAR Sprint Cup, some stars from that series could come to race. Or would they? NASCAR owns Grand-Am, and Grand-Am is working on a tie-in with Germany’s DTM touring-car series. So would it be interested in having its Cup drivers race in a competing series?
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Also, the 80-percent-from-outside-Texas for the F1 race is an eyebrow-raiser for another reason: Reportedly, for the last few Grands Prix at Indianapolis, more than 50 percent of the attendees came from within 300 miles of Indy. I won’t even address the 300,000 people-per-weekend projection, again assuming that Circuit of the Americas knows its business. The permanent grandstand at Circuit of the Americas, by the way, is expected to hold maybe 8,500, with temporary-grandstand seating bringing the total to maybe 55,000 to 60,000.
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Additionally, the MotoGP schedule still holds a place for a race in Texas in 2013, but there is no mention of it on the Circuit of the Americas Web site. In fact, there have been suggestions that Circuit of the Americas may be looking to the AMA to fill the date, apparently reasoning that a motorcycle is a motorcycle. MotoGP is regarded as one of the most profitable forms of racing from a promoter standpoint, so it seems odd that Circuit of the Americas hasn’t figured out how to close that deal, especially because that series actually has American superstars competing in it.
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An additional concern is the fact that, with barely six months to go, Circuit of the Americas has no “official car of the race” lined up, and the only major sponsor deal announced is a co-promotion with Pirelli, which would be there anyway, because the tire company has a deal with Formula 1. Circuit of the Americas seems to be promoting the fact that it is building a track far more than it is promoting the actual racing. The planned Grand Prix in New Jersey, while more than a year away, has already scheduled F1 champ Sebastian Vettel to come drive the circuit next month as a publicity event. That’s the sort of thing you’d think Circuit of the Americas would be doing.
And while the track construction was undeniably behind schedule, work continues at a frenzied pace, and we are past the point of wondering whether or not it will be ready in November. Remember that Ecclestone needs three things to race: A track, fences and a garage. He does not care much about the rest. He has, after all, called the race attendees the “studio audience”—his money is made through sponsorships and television. It isn’t his problem if all the planned track facilities aren’t finished or how well the parking plan works—presently it calls for almost all parking at remote lots miles away, with fans bused in on official shuttles, which apparently won’t be free. This despite the fact that Circuit of the Americas is certifiably In The Middle Of Nowhere, surrounded by prairie that looks, to me, like a pretty good place to park. A rental car, anyway.
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