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Old 02-27-2012, 03:27 AM   #526
bradatlarge
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Quote:
Originally Posted by geg View Post
we're going to Montreal instead. any best guesses on best seating? I am thinking turn one or the hairpin....

update: went for hairpin. now to find hotel.
I'll be there Thurs-Monday. Hilton points come in handy for this, big time.

Prolly going for turn 31 (iirc) again.
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Old 03-04-2012, 06:42 PM   #527
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F1 promoter sues other race investors



Ralph Barrera/AMERICAN-STATESMAN
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[?]






By John Maher AMERICAN-STATESMAN STAFF
Updated: 7:07 a.m. Sunday, March 4, 2012
Published: 11:12 p.m. Saturday, March 3, 2012
Austin's Formula One racetrack project has hit another speed bump.
Tavo Hellmund, once the face of the project, and his company, Full Throttle Productions, have filed a lawsuit against track investors Bobby Epstein and Red McCombs and various companies and managers involved in the $300 million project under construction in Travis County.
The civil suit filed in state District Court in Travis County does not specify damages but says Hellmund had an agreement for an $18 million buyout that was not fulfilled and that he was scheduled to make $500,000 a year for 10 years as chairman of the F1 U.S. Grand Prix.
The first race is set for Nov. 18.
Through the suit, Hellmund also might seek to regain management control of the project: "With the relief requested herein namely, access to the Company's books and records and declaration that he cannot be removed as a manager Hellmund hopes to steer the now-teetering Circuit back on track and determine how best to proceed, if at all, to acquire Epstein's remaining interest in the company."
According to the suit, Hellmund is already trying to buy out McCombs, who has about $8 million in the project roughly a 20 percent stake, about the same percent that Hellmund claims.
Hellmund could not be reached Saturday.
Epstein said Saturday that he was unaware of the suit and that Hellmund has not worked for Circuit of the Americas for a long time.
"This is just a latest step in a pattern of behavior. Mr. Hellmund uses negative press to try and create an advantage for himself at every turn. The fact is, he has been found to be in breach of contract by Formula 1 and he has not fulfilled his agreements," Circuit of the Americas management said in a statement.
Hellmund says in the suit that the project has been hindered by misinformation and poor financial support.
For example, the suit claims that Epstein provided inaccurate information about the adequacy of soil conditions and underground gas pipelines on the almost 1,100-acre site.
According to the suit, Epstein claimed there were 2-inch low-pressure lines on the property, but those "turned out to be 20-inch high pressure lines. Those major gas lines were anything but easy or cheap to remove, costing several million dollars to relocate."
Track officials recently said 3 million cubic yards of earth have been moved during construction. As part of construction, workers dug down more than 9 feet and replaced the clay with more stable soil.
The bottom line, according to the suit, is that the project has cost more than anticipated and resulted in reductions in plans for the grandstand, pedestrian bridges over the track, paved parking, concessions and restrooms.
The suit also claims access and emergency routes to the Circuit of the Americas were inadequate and remain behind schedule.
Officials have said track construction is on schedule.
The suit claims a buyout agreement was reached with Hellmund Sept. 29. He was to receive $18 million for his share of the company and for assigning the contracts of Formula One and MotoGP to Circuit of the Americas, but that didn't happen.
Hellmund and his lawyers contend that he is still the chairman of the F1 race, claiming, "Despite Epstein/McCombs public assertions to the contrary, Hellmund has neither quit nor been terminated."
Contact: 445-3956
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Old 03-05-2012, 09:11 AM   #528
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Quote:
Originally Posted by mike View Post
F1 promoter sues other race investors



Ralph Barrera/AMERICAN-STATESMAN
Enlarge Photo

[?]






By John Maher AMERICAN-STATESMAN STAFF
Updated: 7:07 a.m. Sunday, March 4, 2012
Published: 11:12 p.m. Saturday, March 3, 2012
Austin's Formula One racetrack project has hit another speed bump.
Tavo Hellmund, once the face of the project, and his company, Full Throttle Productions, have filed a lawsuit against track investors Bobby Epstein and Red McCombs and various companies and managers involved in the $300 million project under construction in Travis County.
The civil suit filed in state District Court in Travis County does not specify damages but says Hellmund had an agreement for an $18 million buyout that was not fulfilled and that he was scheduled to make $500,000 a year for 10 years as chairman of the F1 U.S. Grand Prix.
The first race is set for Nov. 18.
Through the suit, Hellmund also might seek to regain management control of the project: "With the relief requested herein namely, access to the Company's books and records and declaration that he cannot be removed as a manager Hellmund hopes to steer the now-teetering Circuit back on track and determine how best to proceed, if at all, to acquire Epstein's remaining interest in the company."
According to the suit, Hellmund is already trying to buy out McCombs, who has about $8 million in the project roughly a 20 percent stake, about the same percent that Hellmund claims.
Hellmund could not be reached Saturday.
Epstein said Saturday that he was unaware of the suit and that Hellmund has not worked for Circuit of the Americas for a long time.
"This is just a latest step in a pattern of behavior. Mr. Hellmund uses negative press to try and create an advantage for himself at every turn. The fact is, he has been found to be in breach of contract by Formula 1 and he has not fulfilled his agreements," Circuit of the Americas management said in a statement.
Hellmund says in the suit that the project has been hindered by misinformation and poor financial support.
For example, the suit claims that Epstein provided inaccurate information about the adequacy of soil conditions and underground gas pipelines on the almost 1,100-acre site.
According to the suit, Epstein claimed there were 2-inch low-pressure lines on the property, but those "turned out to be 20-inch high pressure lines. Those major gas lines were anything but easy or cheap to remove, costing several million dollars to relocate."
Track officials recently said 3 million cubic yards of earth have been moved during construction. As part of construction, workers dug down more than 9 feet and replaced the clay with more stable soil.
The bottom line, according to the suit, is that the project has cost more than anticipated and resulted in reductions in plans for the grandstand, pedestrian bridges over the track, paved parking, concessions and restrooms.
The suit also claims access and emergency routes to the Circuit of the Americas were inadequate and remain behind schedule.
Officials have said track construction is on schedule.
The suit claims a buyout agreement was reached with Hellmund Sept. 29. He was to receive $18 million for his share of the company and for assigning the contracts of Formula One and MotoGP to Circuit of the Americas, but that didn't happen.
Hellmund and his lawyers contend that he is still the chairman of the F1 race, claiming, "Despite Epstein/McCombs public assertions to the contrary, Hellmund has neither quit nor been terminated."
Contact: 445-3956
This does not bode well for the upcoming race, or the track construction.
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Old 03-05-2012, 09:53 AM   #529
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Not about Austin per say, but look at what those lucky limey bastards are getting....a dedicated F1 Channel!!!

:greenwithenvy

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Old 03-09-2012, 04:25 PM   #530
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Originally Posted by geg View Post
we're going to Montreal instead. any best guesses on best seating? I am thinking turn one or the hairpin....

update: went for hairpin. now to find hotel.
I sat at turn one for years, but got tired of the walk from the subway. I buy at the hairpin now.

This photo is from turn one.



And this one is from the stand on the entry to the hairpin. Eddie and David... The stand exiting the hairpin is better.




And this is the view from the pit exit, a few years ago now...

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Old 03-09-2012, 04:35 PM   #531
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I sat at turn one for years, but got tired of the walk from the subway. I buy at the hairpin now.

The stand exiting the hairpin is better.
thats where we'll be
look for a tall guy decked out in Kimi gear & a girl who is a Webber fan
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Old 03-09-2012, 04:47 PM   #532
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thats where we'll be
look for a tall guy decked out in Kimi gear & a girl who is a Webber fan
Will do!

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Old 03-11-2012, 11:04 AM   #533
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I've seen some disturbing reports recently about more dissent and litigation which involve the MotoGP event in '13 and beyond.

Will the track even be completed?
Will an F1 race take place?
Will F1 be back for a second year and more?
Will MotoGP come in 2013?
Will taxpayers foot the bill if it all goes wrong?

Will this whole thing forever be synonomous with the word fiasco?
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Old 03-24-2012, 05:26 PM   #534
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Been out of the loop. Any news
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Old 03-24-2012, 09:34 PM   #535
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Been out of the loop. Any news
There's an F1 track under construction near Austin. Freekin badass, man!

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Old 03-24-2012, 10:05 PM   #536
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Been out of the loop. Any news
Race in Malaysia in a couple hours. Someone is suing someone, situation normal.
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Old 03-25-2012, 10:05 AM   #537
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fine ill dew it me self-------


http://www.statesman.com/blogs/conte...formula_austin
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Old 03-30-2012, 10:34 PM   #538
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Hundreds? As I understood it, it was a $100 deposit for the ability to buy a seat license for $1000-5000!

By comparison, we paid about $850 for two covered seats at Monza in 2003.


Already have my hotel booked, just need tickets...I'll be waiting for the GA tickets as well.
Paid about $50 USD for a covered ticket (on the grass, but covered) at Malaysia a couple years ago. Beer trackside was about $1.50 I think. Grilled thai chicken and malasian noodles about $4.

That was a really well-run racetrack, and I would go again. Been to Spa, Assen (bikes), Nuerburgring, but the Malaysia trip was just easy-peasy and inexpensive. The ticket to KL is almost cheap enough to make it worth going.

Given the US predilection for overdoing law enforcement, enforcing silly rules trackside, and charging out the wazoo for all necessities (beer and food), I'll pass and watch it on the internet.
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Old 03-31-2012, 09:15 AM   #539
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I just want to hear the cars scream down the track
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Old 04-04-2012, 06:35 PM   #540
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Gosh, seems like a few of us will be at Montreal, we should try to meet up, if at least just for a beer or three

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