tavo hellmund

Amazing Austin: Sowing and Reaping

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F1’s history in the USA

Austin is the 10th American city to host F1 since the first U.S. Grand Prix in Sebring, Florida, in 1959. Watkins Glen, New York, hosted a Grand Prix from 1961-80 and other F1 races have been held in Long Beach, Las Vegas, Detroit, Dallas, Phoenix and other cities on street courses.

Yet while these venues have thrown up some amazing pieces of F1 history, for one reason or another they have not really been optimum for holding an F1 weekend for one reason or another. Watkins Glen was probably the closest to what F1 needed as its US home, but despite improvements the circuit became unable to safely handle the increasingly faster cars of the late 70s.

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Austinites view F1 like a folk festival, McLaren fundamental to Formula E 2014, Who is the F1 driver chain smoker? Teams sharing garages, 204 less pit stops in 2012, HRT sale forced by bank bailout request

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Bank bailout forces HRT sale: Meanwhile, the team travels to Austin with the minimum staff to compete and avoid a financial penalty from FOM for being absent (as.com). We may well see the cars qualify, start the race and retire the cars after one lap.

thejudge13 has previously reported that HRT are using parts way beyond their sanctioned life and has a debt to repay before December 2nd or face dissolution. Thesan Capital, we believe, is a front for the Banco Popular who applied yesterday for a bailout of 2.5bn Euro’s. The terms of the bailout are that all non-profitable assets of the bank must be identified and disposed of – including HRT.

As to the story that Colin Kolles is interested in buying the team, this is fantasy by Thesan Capital. He was ‘exited’ last December when the debt from Banco Popular was assigned to Thesan Capital who on taking control issued a statement explaining Colin’s departure, “This is due to the new direction that the team has taken and the decision of the new management to move the team headquarters to Spain,” it read. (Yallf1.com)

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Marlboro McLaren becomes McLaren Nicorette, COTA business plan highly optimistic, Lewis leaving was all about the money, Austin Council votes to tax COTA, New F1 film for release in Austin

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Vodafone scale down sponsorship:  It has been widely rumoured that Vodafone will be pulling out of its 6 year relationship with McLaren at the end of 2013. This has been considered to be worth as much as $75m a year, which is stratospheric compared to the fee’s most sponsors of F1 teams pay. Joe Seward has done a great article on this today, the link is at the end if this section.

The points worthy of comment are, Glaxo Smith Klien (GSK) has been extending its relationship with McLaren, and in a big announcement in the summer the announced a “ground-breaking collaboration” which will apply McLaren’s winning expertise to the needs of GSK, the aim being to help it to function more efficiently with more efficient planning processes and better modelling tools to drive faster decision-making. This includes the construction of a learning facility called the ‘McLaren GSK Centre for Applied Performance’, which is under construction at McLaren’s Headquarters in Woking.they announcedis setting up.

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Law suit involving Austin GP promoters

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The circuit of the America’s (COTA) which will host its first Formula One race Nov. 16-18, is seeking a temporary restraining order against the track’s former founding partner, Tavo Hellmund.

The circuit is asking that Hellmund be prevented from divulging any of the circuit’s trade secrets, destroying or altering any records in his possession or using any of the circuit’s trademarks. Organizers are also seeking damages, court and attorney fees.

The history of this dispute is symptomatic of F1 and big money. Unsurprisingly Mr. Ecclestone is embroiled in the matter which at its heart is based upon a deal being done, falling into question, being undone and a new one being redone cutting out a party who had become surplus to requirements.

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