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hairyscotsman

Joined:

Mar 12

Posts: 3

Austin MotoGP in jeopardy?

This SportRider article confirms what I've been hearing. COTA has not secured the MotoGP race rights. I hope they do so soon!

http://www.sportrider.com/news/146_12030_austin_cota_racetrack_saga_continues_hellmund_files_suit_against_former_track_partners/index.html

[quote]Tavo Hellmund, the racing promoter credited with envisioning and then creating the framework for the Austin F1 race through his contacts within the racing industry—including F1 supremo Bernie Ecclestone—has filed suit against his former financial partners in the Austin venture...

...his longstanding motorsports contacts that enabled him to land a contract for a Formula One race in the Austin area (in addition to MotoGP and Australian V8 Supercars races in 2013), was pulled out from under him via “an improper and unlawful takeover” by McCombs/Epstein “withholding…promised funding.” The suit states that Hellmund offered McCombs and Epstein 75 percent of the venture in exchange for financial backing, but when they failed to pay Ecclestone the required $23 million fee for the original F1 race contract in September of last year, that contract Hellmund negotiated was cancelled (this theoretically put McCombs and Epstein in the driver’s seat for a new contract that wouldn’t include Hellmund…but it ended up resulting in a protracted stalemate with Ecclestone, who is a longtime friend of Hellmund’s, that was only saved at the last second).

...the significance of this brouhaha in Texas is that [b]Hellmund still holds the MotoGP contract that was announced with much fanfare back in April 2011. Thus with this latest move, unless he signs it over to COTA or someone else in much more favor with current COTA management, the chances of the 2013 debut of MotoGP in Austin are pretty darn slim.[/b]

[/quote]

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  • Posted 3 years ago (08 March 2012 04:54)

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hairyscotsman

Joined:

Mar 12

Posts: 3

More from Kevin Schwantz:

Kevin Schwantz weighs in:

http://www.statesman.com/sports/formula1/motogp-series-f1-track-in-holding-pattern-over-2226490.html?utm_medium=twitter&utm_source=twitterfeed


[quote]Motorcycling legend Kevin Schwantz, who figured to be the public face of that race, has been mum on the subject for months. But in February, Schwantz sent a letter to Steve Sexton, the president of Circuit of the Americas, saying, "I urge you one final time to contact Mr. (Tavo) Hellmund about obtaining the rights to host a MotoGP race in Texas, after which I would be glad to open discussions with you as the new promoter. If you have not obtained such rights from Full Throttle, then unfortunately Circuit of the Americas will not be included as a round of the FIM Grand Prix Road Racing World Championship."[/quote]


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hairyscotsman

Joined:

Mar 12

Posts: 3

cont...

[quote]In his letter, Schwantz claimed, "For the benefit of the Austin facility and our Texas fans we entered into the most promoter-friendly contract in MotoGP with Full Throttle, the creator and an owner of the Circuit of the Americas project ... It is my understanding that Circuit of the Americas had the opportunity to obtain these rights on several occasions between late 2010 and the fall of 2011 but that Circuit of the Americas did not follow through."

Full Throttle is Hellmund's promotional company. In a lawsuit filed last week, Hellmund claimed there was an $18 million deal for the Circuit of the Americas to buy his share of the company and the rights to the Formula One and MotoGP races, but that the deal wasn't consummated as planned in an Oct. 25 meeting last year in the London office of Formula One boss Bernie Ecclestone.

In December, the track was able to renegotiate a contract for the Formula One race with Ecclestone after Hellmund's original contract was determined to be in breach.

No such deal has been reached regarding the rights to MotoGP.

Schwantz, a long-time friend of Hellmund's, wrote Sexton, "In the past others at the Circuit of the Americas have indicated that their group has attempted to obtain these rights from Mr. Hellmund for amounts ranging from $4 million to $17 million but that Mr. Hellmund declined."

Schwantz claimed he knew such offers hadn't been made and requested documentation of any such offers.[/quote]

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KellyrockS

Joined:

May 12

Posts: 1

KellyrockS says:

honda austin tx

Beside that fact, we can still assure that dealership at Honda Austin TX, you will get everything you need.  You'll feel very pleased  with the additional attributes that were included. Furthermore, they'll give you a fantastic deal on the price.

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superbol

Joined:

Aug 02

Posts: 1506

superbol says:

Get it to Brands or Snetterton

And I would for the first time pay to see MotoGp ! MSV would do a better job than Silverstone and not rip off the fans .

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