USGP Who's going?

[RonDent]

The USGP is less than a month away. How many of us are planning to go.

[jtfreels]

I'm going it's a short trip.

[911Freak]

I'm in again!

Maybe meet some other Pelicans again this year!

[RonDent]

Looks like a short list. I would have thought more of us would be going. I'm flying in on Thursday, out on Monday.

[masraum]

I went last year and enjoyed it. I'll go again, but not this year. I spent the my fun money this summer.

[strupgolf]

I predict. You had better go now, because I think it will be bankrupt within 5 years. Bernie is going to be fed up with lower attendance and he'll take his dog and pony show to some kingdom with no toilets and a gazillion dollars. I of course hope Im wrong, but I just cant see COTA being a sensible business plan.Rant over.

[tchanson]

Originally Posted by strupgolf

You had better go now, because I think it will be bankrupt within 5 years. Bernie is going to be fed up with lower attendance and he'll take his dog and pony show to some kingdom with no toilets and a gazillion dollars.

Attendance figures are largely irrelevant to Bernie, other than the TV optics. He and his overlords at CVC get their contractually guaranteed fee regardless of whether anyone shows up or not. If 10 people show up in Austin it would look bad, but CVC wouldn't lose a cent. (see Bahrain, China, Korea et al...)

Attendance is also of secondary importance to COTA organizers. They could never come close to even paying the race fee based on the gate alone, which is their only major revenue stream.

The modern F1 business model is basically a scheme of bilking local governments for the annual race fee. (with +10% annual ladder increases for the contract term) It virtually requires government funding (either directly or through considerable tax incentives) to make any sense for an organizer. COTA is no exception.

The sole reason the US race is viable is the annual $29M+ (last year) payment to COTA from the Texas Major Events Trust Fund. The minute that annual payment from the METF is not renewed, the F1 race will cease to be held there. The most important person on the podium at Austin last year was not Lewis or Finger Boy, but Susan Combs, the state comptroller who largely directs those funds.


Tim

[strupgolf]

Yea, thats what I was thinking, you just said it better. Just like other places, it all comes down to the almighty tax dollars.

[silverc4s]

A lot of us will be there. It is the most fantastic racetrack I've seen, and I have seen a lot of tracks in my almost 70 years on this dirtball.
If you don't want to attend, then your reward is not being there.

[glewis80SC]

I'm in. I was fortunate to work the race last year as part of the F&C team(turn12) what a great time.
For their first event they were very professional and very organized. I will be in the grandstands this year. Road trip again with my two boys, staying in the Pecan Grove RV park right in downtown Austin. Looking forward to the whole thing.....especially Franklins BBQ.

[RonDent]

This is my first time working F1. I worked the Grand Am race at COTA earlier this year. Had a great time. Great people in Austin!

[Noney]

We'll be there. Quick turnaround -- fly in on Saturday, fly out on Monday. Decided to go with General Admission tickets, so I'll be trying to figure out where the good spots will be to watch the race from. The area inside of Turn 17 looks interesting, as does the smaller area inside of Turn 2. I heard there was an area near Turn 12 that was nice, but looking at the map I don't see any General Admission areas there.

Anybody have any advice on where to stand/sit?

[jtfreels]

I'm doing General Admission as well, was at the WEC race. You wont see much from the turn 2 area. Turns 7 and 9 and 11 are good viewing spots and at turn 19. Never got down to turn 11 as it was blocked off but should be good.
Not sure how crowded it will be

Jay

[RonDent]

I was hoping to meet a few Pelicans while I was there. But something telling me I won't have time.

[strupgolf]

Originally Posted by silverc4s

A lot of us will be there. It is the most fantastic racetrack I've seen, and I have seen a lot of tracks in my almost 70 years on this dirtball.
If you don't want to attend, then your reward is not being there.

It has nothing to do with me wanting to attend or not, I'm just making an opinion.

[Noney]

Originally Posted by jtfreels

I'm doing General Admission as well, was at the WEC race. You wont see much from the turn 2 area. Turns 7 and 9 and 11 are good viewing spots and at turn 19. Never got down to turn 11 as it was blocked off but should be good.
Not sure how crowded it will be

Jay

Thanks for the input.

Turn 11 looks like a prime passing zone, so that area is certainly in play. Plus, I'm going with several people who have never seen an F1 car before, so watching my friends watch the cars brake from 180ish down to 60ish could be fun. I remember the first time I saw a car at Indy I was convinced he forgot to brake for Turn 1 and was just going to go around the oval and get back on track, but then at the LAST possible moment the car just dove down and darted into the turn. Astonishing.

Were the trolleys running when you were there for the WEC race? We have a member of the group that might not be able to walk that far down the track.

[tchanson]

Originally Posted by tchanson

Attendance figures are largely irrelevant to Bernie, other than the TV optics. He and his overlords at CVC get their contractually guaranteed fee regardless of whether anyone shows up or not. If 10 people show up in Austin it would look bad, but CVC wouldn't lose a cent. (see Bahrain, China, Korea et al...)

Attendance is also of secondary importance to COTA organizers. They could never come close to even paying the race fee based on the gate alone, which is their only major revenue stream.

The modern F1 business model is basically a scheme of bilking local governments for the annual race fee. (with +10% annual ladder increases for the contract term) It virtually requires government funding (either directly or through considerable tax incentives) to make any sense for an organizer. COTA is no exception.

The sole reason the US race is viable is the annual $25M+ (last year) payment to COTA from the Texas Major Events Trust Fund. The minute that annual payment from the METF is not renewed, the F1 race will cease to be held there. The most important person on the podium at Austin last year was not Lewis or Finger Boy, but Susan Combs, the state comptroller who largely directs those funds.


Tim

And so it begins.




U.S. Grand Prix F1 race in Austin in jeopardy after state reduces funding

Circuit of the Americas chairman Bobby Epstein did not hold back his disappointment and fear for the future for the U.S. Grand Prix in Austin, Texas, after government officials in Texas confirmed significant cuts to funding to the race.

On Tuesday, the American-Statesman in Austin reported that the state is cutting payments to COTA by more than 20 percent. And those contributions have been significant -- $25 million in 2012, 2013 and 2014. This year's payment is expected to be about $19.5 million.

"To use a technical term, I think we're screwed," Epstein said.

The stage appears to be set for a legal battle between COTA and the state over the unexpected reduction in funding.

"An entire facility was constructed based on that deal," COTA spokesman Dave Shaw said. "If the calculation changes now, that's effectively changed the terms of the deal."

The news is the latest in a series of jolts for COTA surrounding this year's race. Bad weather contributed in an attendance figure much below that of the facility's 2012 F1 debut. Then, last week, the first F1 race in more than two decades in Mexico -- considered competition by many to the race in Texas -- was a glowing success.

The money that the state gives to COTA is tied to economic impact of the race to the Texas economy. State officials said that the state is using a different formula to calculate that figure this year, and that resulted in the smaller amount of funding being extended to the track.

"It hit us cold," said Epstein of the latest news. "No one could foresee this coming."

AuotWeek

[herr_oberst]

Originally Posted by tchanson

"It hit us cold," said Epstein of the latest news. "No one could foresee this coming."[/I]

AuotWeek

How could you not see this coming. The promise of state funding would be the sword of Damocles keeping any sane person from getting a good nights sleep the entire length of the contract...geez, you talk about a house of cards...