SOURCE ESPNF1
Concerns grow over US GP proposals
ESPNF1 Staff
May 26, 2010
After an initial few hours of generally upbeat reaction, the reality of the huge demands facing the organisers of the proposed US Grand Prix in Austin, Texas have began to raise some serious concerns.
The biggest question is how funding which will run into the hundreds of millions of dollars can be raised when the already very sketchy plans are even woollier about money. Many ESPNF1 feedbackers have been quick to draw parallels with the high hopes which surrounded the ultimately discredited USF1 team.
ESPN's Terry Blout wrote: "No one seems to know if Tavo Hellmund, the Central Texas racer and promoter behind the project, has any money. The plan calls for building a three-mile road course exclusively for F1 - a facility of $200 million to $300 million. It's more than just building a track, a major expense by itself. No one has said where the financing is coming from and who is putting up the funding."
Kevin Eason in The Times was no less worried:
"This is one old Formula One dog who was once bitten by Donington and is twice shy." Even the major Austin daily American-Statesman appeared dubious asking "why would an Austin project succeed where others haven't?"
Another veteran ESPN analyst said: "I'd like to know where he's going to get a couple hundred million dollars and real estate within 10 miles of Austin airport. If Texas officials are in, then they've been suckered … and will be out of the thing as soon as they figure it out."
:chew
