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Old 05-25-2010, 01:40 PM   #1
07WRBSTI
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Not as close to me as Indy

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Originally Posted by Story
Formula One World Championship Limited and Formula One Administration Limited (together, the F1 Commercial Rights Holder) and Full Throttle Productions, LP, promoter of the Formula 1 United States Grand Prix™, announce that a historic agreement has been reached for Austin, Texas to serve as the host city of the Formula 1 United States Grand Prix™ for years 2012 through 2021.

“We are extremely honoured and proud to reach an agreement with the F1 Commercial Rights Holder. We have been diligently working together for several years to bring this great event to Austin, the State of Texas and back to the United States. All parties involved have a great amount of trust and confidence in each other and are committed to establishing the Formula 1 United States Grand Prix™ in Austin, Texas as a prestigious global event,” stated Tavo Hellmund, Managing Partner of Full Throttle Productions, LP.

Bernie Ecclestone, President and CEO of the Formula One Group stated: “For the first time in the history of Formula One in the United States, a world-class facility will be purpose-built to host the event. It was thirty years ago that the Formula 1 United States Grand Prix™ was last held on a purpose-built permanent road course circuit in Watkins Glen, NY (1961-1980), which enjoyed great success. Since then, Formula One has been hosted by Long Beach, Las Vegas, Detroit, Dallas and Phoenix all on temporary street circuits. Indianapolis joined the ranks of host cities in 2000 when they added a road course inside the famed oval. Lewis Hamilton won the last Formula 1 United States Grand Prix™ in 2007, signalling the end to eight years at Indianapolis Motor Speedway. This however, will be the first time a facility is constructed from the ground up specifically for Formula One in the US.”

Mr. Hellmund added: “This is a case of the right timing in the right place. As many Americans know, Austin has earned a reputation as one of the ‘it’ cities in the United States. Austin features that rare combination of ideal geographic location and beauty. Its fine dining, world-renowned hospitality and excellent transportation infrastructure make Austin ideally suited to host and manage an event of this magnitude. Few cities if any in America could rival the connectivity of all the key elements needed for hosting a Formula 1 event as well as Austin. Now, many people around the world will have the opportunity to experience a world-class event, facility and city.”

“We are pleased Texas has the opportunity to be involved with Formula 1 and that an event of this magnitude is coming to Austin,” said Susan Combs, Texas Comptroller of Public Accounts. “It has been a pleasure working with Full Throttle Productions, LP and Mr. Hellmund on this project. Their tradition of producing successful major events coupled with a thirty year relationship with Mr. Ecclestone has us looking forward to this worldwide event and the benefits it will bring, including local job creation, increased tourism and a significant economic impact added to our state economy. The visibility and prestige of this event will spotlight our state on an international stage.”

Texas Governor Rick Perry conveyed his enthusiasm for the project, explaining “Texas’ relatively strong economy continues to draw both national and international attention and I commend Comptroller Combs for her work in bringing this exciting event to the Lone Star State.”

City of Austin Mayor Lee Leffingwell continued the positive sentiments, adding "The City of Austin will be proud to host this magnificent event and I look forward to welcoming the participants and fans of Formula One to our City."

Full Throttle Productions, LP acknowledges with great appreciation the efforts of all parties involved including Bernie Ecclestone, President and CEO of the Formula One Group, and the local and state officials of Texas.

“It has been a shared vision and monumental task to reach this agreement. We realize that over the last 30 years there have been one or two missing pieces from the previous editions of the Formula 1 United States Grand Prix™. We have a tremendous opportunity at hand to do it right - to feature Austin as the backdrop and produce the Formula 1 United States Grand Prix™ as one of the great sporting events in the world,” stated Hellmund.

In addition to the State of Texas being the 11th strongest economy in the world, it has more Fortune 500 company headquarters than any other state. Key features of Austin include:
- State capital nicknamed ‘Silicon Hills’ for being one of the most important regions in the US for the Technology Industry;
- USA’s 15th largest city and is located 145 miles from Houston (4th largest US city), 70 miles from San Antonio (7th largest US city), and 180 miles from Dallas (8th largest US city), population in this triangle is over 22 million;
- perfectly located geographically for North, South and Central American visitors;
- over 130 daily departing international flights within 180 miles;
- over 250,000 hotel rooms within 180 miles;
- desirable year-round climate, with an average annual temperature of 68 degrees Fahrenheit (20 Celsius);
- geographically located in the Texas Hill Country, easily the most beautiful city in the State, and considered one of the most in the US;
- hotels/downtown/Formula 1 circuit/airport located within close proximity of each other, which is nearly impossible for any other large city in the US;
- world class night life entertainment along renowned ‘Sixth Street’; and
- large film industry presence - many movies filmed in the area.

Austin’s National Recognition
- Known as “The Live Music Capital of the World”
- Voted “Greenest City in America” (MSN)
- Voted “Least Stressful Large Metro” in the United States (Forbes)
- Voted Top Two “Best Cities” in the United States (Money Magazine)
- Voted Top Three “Hippest Cities” in the United States (Forbes)
- Voted Top Five “Safest Cities” in the United States (Forbes)
- Voted Top Ten “Sports & Fitness Cities” in the USA (Sports Business Journal)

Full Throttle Productions, LP is an Austin, Texas, special event and sports production company that provides event conception, event project management, day of event oversight, staffing and volunteer services, venue planning and logistics support.
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Old 05-25-2010, 02:49 PM   #2
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about time - awesome news
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Old 05-25-2010, 02:50 PM   #3
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Austin should be cheaper than Montreal. And yes, Indy is a lot closer to me than Austin, but I never went to Indy because I either didn't have the funds or the time.
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Old 05-25-2010, 02:52 PM   #4
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out of the left field... texas being chosen seems odd. The NY motorclub seemed perfect, guess bernie wanted alot more incentives.
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Old 05-25-2010, 02:55 PM   #5
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I'm adopting a wait and see opinion. Texas doesn't leap to the front of my mind when I think of the glitz and glamor of F1... really they should have raced in New York, LA, or Vegas.

A new purpose built F1 circuit in Vegas would have made way more sense than one in Austin.
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Old 05-25-2010, 02:56 PM   #6
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Quote:
Originally Posted by subySerb View Post
Austin should be cheaper than Montreal. And yes, Indy is a lot closer to me than Austin, but I never went to Indy because I either didn't have the funds or the time.
Likely the time, tickets and camping were a combined $100 the first few years, and up to $110 the rest of its run.
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Old 05-25-2010, 02:56 PM   #7
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Something tells me there are about 40 people in all of Texas that even know what F1 is, let alone would go to a race.
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Old 05-25-2010, 02:59 PM   #8
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Thats what they want. Its not meant for the locals, its meant to bring people into the city, thats how they make their money. The track never makes money off of an F1 race.
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Old 05-25-2010, 03:01 PM   #9
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Quote:
Originally Posted by WhiteKnightSTi View Post
Something tells me there are about 40 people in all of Texas that even know what F1 is, let alone would go to a race.
As someone who has no previous desire to go to Texas, I will likely be there for this. The races have a huge drawn and thats what theyre after
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Old 05-25-2010, 03:03 PM   #10
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I know, I'm just pissed that it's all the way on the other side of the country from me
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Old 05-25-2010, 03:06 PM   #11
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I will definitely be going to some races!
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Old 05-25-2010, 03:08 PM   #12
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Texas is a beautiful state, especially in the Austin area and this makes more sense. Texas has more room, better transportation in and out of the track. Austin is the cultural hub for arts, music and food in texas. The hill country has fantastic vineyards all around it. Put your stereotyped biased hatred for Austin and texas away (hell I did, I am from Louisiana) and when you get here, I promise you, you will enjoy yourself.

Vegas could have worked, but the hill country of austin is a far more beautiful backdrop.

This is going to be a very successful partnership.

Whiteknight, that is just a horribly biased statement. This race will sell out instantly, and many will be locals...(I just hope the do not bring the texas flag there! haha)
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Old 05-25-2010, 03:16 PM   #13
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Any pics of the track layout or construction?

and I'm sure this will help them in their quest to keep the “Greenest City in America” (MSN) title.

I find this odd mostly because of the horrible failure of the Dallas F1 race, and for that matter most other non-NASCAR races in Texas (yes, I'll put the old IMSA street circuit race in San Antonio as the exception)
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Old 05-25-2010, 03:16 PM   #14
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Regardless of the stated reasons why Autin was picked to be the host city, we all know Austin/Texas was really chosen so as to revive and perpetuate the stereotype that all Americans are cowboys - Yee ha, bang bang!



But for real, it's nice to see F1 returning to a the US, and on a purpose-built track.
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Old 05-25-2010, 03:16 PM   #15
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Maybe they can run NASCAR on the same track to keep it profitable.
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Old 05-25-2010, 03:19 PM   #16
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That would mean they would have to turn right...
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Old 05-25-2010, 03:21 PM   #17
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Quote:
Originally Posted by WhiteKnightSTi View Post
Something tells me there are about 40 people in all of Texas that even know what F1 is, let alone would go to a race.
I'm one of them so why don't you go DIAF!

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Old 05-25-2010, 03:21 PM   #18
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I find this odd mostly because of the horrible failure of the Dallas F1 race, and for that matter most other non-NASCAR races in Texas (yes, I'll put the old IMSA street circuit race in San Antonio as the exception)
F1 won't have to rely solely on Texas residents to make it a success. This will be a national race and will draw fans from around the country.
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Old 05-25-2010, 03:27 PM   #19
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I'll believe it when I see it there. Just because Bernie sign a 10 year deal doesn't mean he can't back out of the deal.

Remember Donington Park a couple of years ago?

I wonder how Texas is going to come up with the $30 mil fee Bernie extorts out of then to hold a race there.

Sorry for being so negative, but I just don't trust BE.
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Old 05-25-2010, 03:28 PM   #20
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They mentioned in the press release how Austin has a good location for those coming from South and Central America.
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Old 05-25-2010, 03:33 PM   #21
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Sweet. Ima start saving mah duckets.
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Old 05-25-2010, 03:39 PM   #22
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Quote:
Originally Posted by subySerb View Post
Maybe they can run NASCAR on the same track to keep it profitable.
I'm hoping more for a Grand-Am race. I'd be OK with dropping one of the races at Daytona or Watkins Glen if the new track is suitable.
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Old 05-25-2010, 03:39 PM   #23
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If there's anyplace in the US with the money floating around to hold a GP for 10 years, it's Texas.
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Old 05-25-2010, 03:52 PM   #24
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Originally Posted by WhiteKnightSTi View Post
Something tells me there are about 40 people in all of Texas that even know what F1 is, let alone would go to a race.
That thar stainds for Formalah One, but ah don't know what Formalah One stainds for.

****ing Austin. Really? They can't even build roads you can drive on.
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Old 05-25-2010, 03:54 PM   #25
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I wonder how Texas is going to come up with the $30 mil fee Bernie extorts out of then to hold a race there.
On top of the $1 billion it is going to cost to construct a facility to Bernie's liking.
Abu Dhabi cost $1.3b. Beginning construction now will cost $Texas...hey, wait a minute...
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