The Show Must Go On

All eyes on Austin in this time of uncertainty for the Formula One United States Grand Prix, still slated to begin in Austin in one year. Despite the recent interpretations of fact and soundbytes, at the end of the day (well, today at least!) there is still a November 18, 2012 Austin race on the Formula One calendar. Until it is officially removed, we will continue to move in that direction.

Tavo Hellmund and Bernie Ecclestone, President & CEO of Formula One Management (Courtesy of Formula 1 United States)However, overnight F1's Bernie Ecclestone was quoted in The Independent (UK paper) as saying "The [new] contract we proposed to them is 10 years from 2013. We said we would wait for them."

Moments ago, Steve Sexton (President of Circuit of The Americas) issued the following statement:

"We have been excited for and working towards a 2012 USGP race and now understand that Mr. Ecclestone is interested in moving the Austin race to 2013. We know the U.S. market is important to the teams and their sponsors and 2013 certainly allows time for the Circuit of The Americas to be ready."

So, a loose interpretation of these comments suggests that COTA and Ecclestone are re-negotiating the terms of the F1US contract. There are obvious pros and cons for moving a 2012 race to 2013. The most obvious pro is that this allows more time to develop the infrastructure at Circuit of The Americas to its full capabilities to welcome F1, MotoGP and V8 Supercars all together in 2013. Despite having to wait, the most crushing con is that many American F1 fans are again in an emotional state of confusion and anger. Hopefully, as the dust settles from this Texas showdown, we will be able to quickly get back to our state of creativity and excitement.

There are a few events in Austin this weekend that were planned in order to commemorate the one year mark until our first F1 race. Some may think it's a waste of time to continue with our plans. I completely disagree. Instead of focusing on a one year countdown, it is time to celebrate our accomplishments for the past 18 months!

Hundreds of Austinites have banded together to create a vibrant community for a race that isn’t even here yet. For a circuit that is about 40% complete. The fans, supporters and community connectors are due credit for creating worldwide excitement for Austin, Texas 2012. The fans have opened their arms to visitors who have travelled to Austin since May 25, 2010 to scout out what we're all about: to plan their F1 events and business dealings; to get the lay of the land while listening to live music on 6th Street; to "ride the bull" at Rebel's Honky Tonk in the Warehouse district; to watch an F1 race with fans at Cool River Cafe or downtown with us at Six Lounge. Every visitor that we have met with has shared the same reaction: Austin is an amazing town with people that make it extraordinary. The people are extraordinary because they love their city and they love the idea of sharing what it has to offer with friends and visitors.

Hangar Lounge - 318 Colorado Street

This weekend is about celebrating what we’ve accomplished as a community while continuing to look forward to the future of racing in Austin. Here are two events:

Friday, November 18, 8:00PM – 12:00AM

Hangar Lounge, 318 Colorado Street, Austin, Texas

Free admission and Red Bull drink specials

More info on our Facebook event link by clicking here.

Saturday, November 19, 5:00PM – 11:30PM

The Hitchin’ Post, 12100 FM 969, Austin TX

More details on Wild Bubba's Facebook event page by clicking here.

See you this weekend!

OFFICIAL - USGP CONSTRUCTION ON HOLD

Tavo Hellmund is the rights holder of the contract for the Formula One United States Grand Prix from 2012-2021 scheduled for Austin, Texas.

Circuit of The Americas is the entity that is investing in and building the circuit and related facilities in Austin, Texas.

Numerous sources report that there may be disagreements between the parties.

Construction at the circuit is now on hold until an agreement is reached.

Plain and simple.

“While construction at Circuit of The Americas has progressed as scheduled with over 300 workers at the construction site daily, all work will suspend immediately,” the statement said. “The delivery of the Formula One Grand Prix race contract will allow construction operations to resume.”

Austin Formula For Negotiations 101

After the past few days of speculation about the future of Formula 1 in Austin, it's hard to begin this with a level head.

I've seen the articles from Reuters, Autosport, Autosport (pay for access), Autoweek, ESPN (AP source), SPEED, our local newspaper Austin-American Statesman, and countless other sources.  If you walked into the world of Formula 1 in the last four days, you would probably think the Austin race would not be happening and might even expect to see at least one lawsuit come out of this situation.  Truth is, I wouldn't blame you for reacting this way even if you've been following the news since May 25th, 2010 when Austin first became a reality.

Bernie Ecclestone - "Can you hear me now?"

I am, however, not at all surprised by the flamboyant statements made by Ecclestone and the frantic media that bows to his demands for a controversy.  Bernie has fully mastered this art, there are few others in the world who can utter a casual comment and watch the reaction spread like a wildfire. From the spectator's point of view, it's sold to us as fact, growing quickly out of proportion and turning into a full-on scandal.  Like rubberneckers captivated by an accident on the highway, we end up staring at the story as if it's our only chance to see this, ever.

But the reality is this is nothing new, and what we are really witnessing is not a cover-up or controversial truth telling, but instead a very public and high-stakes negotiation between a couple of powerful people with deep pockets.  Out of all of the stories this past few days, one thing is apparent:  Tavo Hellmund and his company Full Throttle Productions, who negotiated the 2012-2021 contract with Formula 1 boss Bernie Ecclestone, own the rights to the USGP independent of Circuit of The Americas (though Tavo is clearly part of the COTA team according to their website). 

What is on the line is hundreds of millions of dollars in jobs, investment, ticket sales, and TV viewers that all hinge on the ability of these parties to come to terms.

If you have followed Formula 1 for the last decade or longer, then this is nothing new to you. If you're just joining, then go ahead: spend an afternoon on Google reading about each time "Bernie Ecclestone casts doubt" and the claims Bernie's made in his defense; the man is an expert at controlling the conversation and maintaining power.  So is it any surprise we're being taken for a roller coaster ride right now, knowing that there are some hard-core negotiations going on?

Absolutely not. In fact, I'd be a bit surprised if we didn't see this given what's at stake.

Exclusive: LBJ Future Forum with Bruce Knox of Circuit of The Americas

Bruce Knox, EVP of COTA, speaking at LBJ Future ForumWe continue to highlight the brain trusts here in Austin because Austin continues to top the "Best Of" lists across the board.

Last month, we had the fortunate opportunity to hear Bruce Knox speak at the University of Texas at Austin ("UT") LBJ Future Forum. Bruce is the Executive Vice President of Circuit of The Americas.

As a bit of a history lesson, Lyndon Baines Johnson, the 36th President of the United States of America who was from Texas (and an alma matter of my own Southwest Texas State University), always had strong ties to our state and his legacy lives on through the LBJ Future Forum at UT. The forum provides educational and cultural information through various speakers and events spanning a broad range of topics.

LBJ's artistic and intimate presidential library resides at UT and he and his graceful First Lady, "Lady Bird," continue to leave their mark through their respective legacies. Heck; some of Austin's top outdoor draws - Lady Bird Lake (aka Town Lake) and The Wildflower Center were established in honor of Lady Bird's legacy.

Austin Skyline by Lou Neff Point Okay, right. Back to the presi at hand. If you've never had a chance to hear the Circuit of The Americas overview, then this is a great opportunity to do so. The slides hit all the statistics and we can personally attest that Bruce Knox is a real F1 fan that "gets it." Enjoy.

Formula 1: The Basics and Beyond from LBJ Future Forum on Vimeo.

 Here are some pictures from the event and LBJ's Presidential Library, which is open to the public.

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