Texas up the creek
Discussion
http://news.bbc.co.uk/sport1/hi/formula_one/157500...
Work halted on the track as Bernie hasn't awarded the race contract yet... are we seeing another Donnington and BCE not giving a flying because he now has Jersey?
Work halted on the track as Bernie hasn't awarded the race contract yet... are we seeing another Donnington and BCE not giving a flying because he now has Jersey?
I saw this as well....not impressed with how BE is treating them. Watched the video of DC going around the track and the circuit map they have actually looks like it could be a really good circuit! Hope it works out for them.....to be honest I'd rather have a good circuit in Austin then another street circuit in NY that might just end up being another valencia!
hornetrider said:
http://news.bbc.co.uk/sport1/hi/formula_one/157500...
Work halted on the track as Bernie hasn't awarded the race contract yet... are we seeing another Donnington and BCE not giving a flying because he now has Jersey?
I never expected it to be ready with or without a contract. Donington MK2 was always on the cards.Work halted on the track as Bernie hasn't awarded the race contract yet... are we seeing another Donnington and BCE not giving a flying because he now has Jersey?
He really is an arse isn't he!
It's a risky move too, as in the other thread about Austin, F1 doesn't need the US per se, but it does if it wants to grow, the US on the other hand doesn't need F1 at all, as with most things sporting the US likes it's own sports, and no one will argue that the yanks are a patriotic bunch, and won't like being dicked about by the poison toad.
It's a risky move too, as in the other thread about Austin, F1 doesn't need the US per se, but it does if it wants to grow, the US on the other hand doesn't need F1 at all, as with most things sporting the US likes it's own sports, and no one will argue that the yanks are a patriotic bunch, and won't like being dicked about by the poison toad.
StevieBee said:
There is a flipside to the b
d Bernie line. That is, you have to question the judgement of an organisation that commits to a major construction project without a signed contract in place, particularly in the US, the most litigious society on earth.
It does seem odd but Bernie's machinations are so complex and devious, maybe they genuinely thought they really did have a contract. As I said on the "other thread" on this same topic (why two?), you could have the most cast-iron contract this side of the Andromeda Galaxy and Bernie would still toss it in the bin if he thought it was the right thing to do.d Bernie line. That is, you have to question the judgement of an organisation that commits to a major construction project without a signed contract in place, particularly in the US, the most litigious society on earth.What's more, he would show that it was all your fault and that you would have to pay him to release yourself properly from the deal.
MonkeyHanger said:
hornetrider said:
http://news.bbc.co.uk/sport1/hi/formula_one/157500...
Work halted on the track as Bernie hasn't awarded the race contract yet... are we seeing another Donnington and BCE not giving a flying because he now has Jersey?
I never expected it to be ready with or without a contract. Donington MK2 was always on the cards.Work halted on the track as Bernie hasn't awarded the race contract yet... are we seeing another Donnington and BCE not giving a flying because he now has Jersey?
Eric Mc said:
It does seem odd but Bernie's machinations are so complex and devious, maybe they genuinely thought they really did have a contract. As I said on the "other thread" on this same topic (why two?), you could have the most cast-iron contract this side of the Andromeda Galaxy and Bernie would still toss it in the bin if he thought it was the right thing to do.
What's more, he would show that it was all your fault and that you would have to pay him to release yourself properly from the deal.
You are probably very right on this. I can't believe they don't have a contract. Either that or they are very very stupid. The paddock must of thought they had a contract or RBR wouldn't of gone and driven on it a few weeks back for promotion.What's more, he would show that it was all your fault and that you would have to pay him to release yourself properly from the deal.
pw32 said:
Eric Mc said:
It does seem odd but Bernie's machinations are so complex and devious, maybe they genuinely thought they really did have a contract. As I said on the "other thread" on this same topic (why two?), you could have the most cast-iron contract this side of the Andromeda Galaxy and Bernie would still toss it in the bin if he thought it was the right thing to do.
What's more, he would show that it was all your fault and that you would have to pay him to release yourself properly from the deal.
You are probably very right on this. I can't believe they don't have a contract. Either that or they are very very stupid. The paddock must of thought they had a contract or RBR wouldn't of gone and driven on it a few weeks back for promotion.What's more, he would show that it was all your fault and that you would have to pay him to release yourself properly from the deal.
This just all seems odd really. Nobody knows what the deal was. One would assume from what we know, that Bernie said you can have a contract on these terms if you do, x,y,z.... Austin have claimed to have fulfilled their obligations but clearly haven't as Bernie says the opposite. Nobody really knows anything!
Formula 1 supremo Bernie Ecclestone says he is ready to axe the Austin Grand Prix in the wake of internal disputes between the race organisers.
Ecclestone had intimated in India that the race was at risk, but the situation reached a critical point this week when circuit construction was halted amidst a growing row between the event promoters and the track's organisers.
"We've done everything we bloody well can to make this race happen," Ecclestone told the Press Association. When asked whether the race was in danger of being dropped, he replied: "Yes, it will be for sure, 100 per cent."
Ecclestone said that his original contract, with Tavo Hellmund's Full Throttle Productions company - who owned the rights to host the race - had been cancelled recently.
He said he had instead started negotiations with the track developers, the Circuit of The Americas, who halted construction work on Tuesday after claiming contract talks had not progressed as previously agreed.
Ecclestone says he is yet to receive a guarantee of payment from COTA, and has given them three weeks to resolve the situation or risk having the race dropped from the 2012 Formula 1 calendar when the World Motor Sport Council meets in New Delhi on December 7.
"We had an agreement with Full Throttle Productions," Ecclestone explained. "Everything was signed and sealed, but we kept putting things off like the dates, various letters of credit and things that should have been sent, but nothing ever happened.
"Then these other people (COTA) came on the scene, saying that they wanted to do things, but that they had problems with Tavo [Hellmund]. They said they had the circuit, and that they wanted an agreement with me.
"I told them they had to sort out the contract with Tavo, which they said they would. But that has gone away now because we've cancelled Tavo's contract as he was in breach.
"We've waited six months for him to remedy the breach. He knows full well why we've cancelled. He's happy. But these other people haven't got a contract. All we've asked them to do is get us a letter of credit.
"We are looking for security for money they are going to have to pay us. That is via a letter of credit, normally from a bank. If people don't have the money they find it difficult to get the letter of credit, and so we don't issue a contract."
The dispute means F1's current four-year absence from the US, a key market, could be further prolonged, although a deal to race in New Jersey from 2013 was recently agreed.
http://www.autosport.com/news/report.php/id/96270
Ecclestone had intimated in India that the race was at risk, but the situation reached a critical point this week when circuit construction was halted amidst a growing row between the event promoters and the track's organisers.
"We've done everything we bloody well can to make this race happen," Ecclestone told the Press Association. When asked whether the race was in danger of being dropped, he replied: "Yes, it will be for sure, 100 per cent."
Ecclestone said that his original contract, with Tavo Hellmund's Full Throttle Productions company - who owned the rights to host the race - had been cancelled recently.
He said he had instead started negotiations with the track developers, the Circuit of The Americas, who halted construction work on Tuesday after claiming contract talks had not progressed as previously agreed.
Ecclestone says he is yet to receive a guarantee of payment from COTA, and has given them three weeks to resolve the situation or risk having the race dropped from the 2012 Formula 1 calendar when the World Motor Sport Council meets in New Delhi on December 7.
"We had an agreement with Full Throttle Productions," Ecclestone explained. "Everything was signed and sealed, but we kept putting things off like the dates, various letters of credit and things that should have been sent, but nothing ever happened.
"Then these other people (COTA) came on the scene, saying that they wanted to do things, but that they had problems with Tavo [Hellmund]. They said they had the circuit, and that they wanted an agreement with me.
"I told them they had to sort out the contract with Tavo, which they said they would. But that has gone away now because we've cancelled Tavo's contract as he was in breach.
"We've waited six months for him to remedy the breach. He knows full well why we've cancelled. He's happy. But these other people haven't got a contract. All we've asked them to do is get us a letter of credit.
"We are looking for security for money they are going to have to pay us. That is via a letter of credit, normally from a bank. If people don't have the money they find it difficult to get the letter of credit, and so we don't issue a contract."
The dispute means F1's current four-year absence from the US, a key market, could be further prolonged, although a deal to race in New Jersey from 2013 was recently agreed.
http://www.autosport.com/news/report.php/id/96270
On this particular issue, I don't see where the hate for Bernie comes from.
Promoter signs a contract with Bernie; said contract says promoter will pay $25m (or provide letter of credit for same) by end of July 2011. Promoter doesn't stump up the cash. Promoter contracts with circuit owners; promoter falls out with circuit owners. Bernie terminates promoter's contract after waiting several months for overdue payment / LoC, and offers contract to circuit directly - something circuit has asked for. Circuit has to find $25m (or LoC); circuit doesn't provide.
You might not like the payment terms, but if the promoter signed the contract and defaulted surely it is the promoter's fault? Bernie's point is that, if they can't stump up the sanction fee, they're insufficiently solvent to be on the calendar for 2012 as they might not make it to race day. In this he may have a point.
Promoter signs a contract with Bernie; said contract says promoter will pay $25m (or provide letter of credit for same) by end of July 2011. Promoter doesn't stump up the cash. Promoter contracts with circuit owners; promoter falls out with circuit owners. Bernie terminates promoter's contract after waiting several months for overdue payment / LoC, and offers contract to circuit directly - something circuit has asked for. Circuit has to find $25m (or LoC); circuit doesn't provide.
You might not like the payment terms, but if the promoter signed the contract and defaulted surely it is the promoter's fault? Bernie's point is that, if they can't stump up the sanction fee, they're insufficiently solvent to be on the calendar for 2012 as they might not make it to race day. In this he may have a point.
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