F1 to Austin TX

[JuliaJ]

Let's hope there's room for several Grands Prix in the good 'ol USA!!!

[sydude]

Some recent news as reported by Autoweek:

http://www.autoweek.com/article/2011...n=awdailydrive

By: Steven Cole Smith on 11/13/2011

To a mayfly with an adult lifespan of about a day, likely one year seems like a long time. But in the world of Formula One, it's an eye blink. And that's how far away we are from the scheduled debut of the United States Grand Prix next November at the under-construction Circuit of the Americas track near Austin, Texas.

At least one F1 journalist insists that the controversy surrounding the track, and the race, is just a “tempest in a teapot” ginned up by a bored and looking-for-publicity Bernie Ecclestone, and sold to a bunch of naive, gullible journalists--like me, I'm guessing.

Well, it isn't. It's real. There might not be an F1 race in Texas in 2012, and there might not be a track for the series to race on.

To understand the situation, let's look at the key players, which won't take long, since there are only two: Tavo Hellmund, a former race-car driver, a racing promoter and the founder of Full Throttle Productions. The other is Bobby Epstein, whose core business is Prophet Capital Management Fund, which he trademarked in 1997.

Epstein is believed to be using his personal wealth and his financial connections as the primary source of funds for the construction of the track and ancillary facilities, with a budget of about $300 million.

Hellmund, whose relationship with F1 honcho Ecclestone dates back 40 years, traceable to the F1 races that Hellmund's father promoted in Mexico, secured the 10-year contract for Grands Prix in Austin beginning in November 2012, and MotoGP and Australian V8 Supercar races beginning in 2013, through his company, Full Throttle Productions.

This is a good place to note that interview requests for this column were sent to Hellmund and Epstein through Jeff Hahn, whose agency handles public relations for Circuit of the Americas. Neither responded by deadline.

There are, of course, other players but they may be comparatively minor, most notably Red McCombs, founder of the Red McCombs Automotive Group, a cofounder of Clear Channel Communications, a former owner of the San Antonio Spurs, Denver Nuggets and the Minnesota Vikings. The colorful McCombs, 84, once told Ford's then-chairman Lee Iacocca that he would change his name legally to “Red Mustang” if Iacocca would give him a larger allotment of the red-hot 1965 models. Iacocca did, and so did McCombs.

McCombs is an investor in Circuit of the Americas, but of the $300 million budget, McCombs's contribution is believed to be less than 10 percent.

There is also Circuit of the Americas president Steve Sexton, hired after he parted ways with Churchill Downs Entertainment, a newly formed division of the horse-racing track that hosts the Kentucky Derby. Sexton was president of Churchill Downs Entertainment, which hosted HullabaLOU, a music festival in July 2010 that lost $5 million. The loss was largely the result of circumstances beyond his control but Sexton was the fall guy, and the entertainment division was dissolved. Sexton is well-spoken and well-regarded but he has no experience in motorsports.

Earlier in the life of the Circuit of the Americas, Hellmund was the most visible participant, but after a press conference last April announcing the MotoGP deal, Hellmund became less and less available. Epstein has always stayed behind the scenes, but now he has disappeared from the “team” listing of six executives on the track's Web site, though he is a founding partner, just like McCombs and Hellmund, whose biographies remain online.

So those are the players. Here is the “tempest” so far: After the initial legal issues, neighborhood complaints and governmental roadblocks that invariably precede the construction of a racetrack--reference the history of the Texas Motorplex, Texas Motor Speedway and even the sad, checkered tale of Texas World Speedway if you want proof that these things happen even in the can-do Lone Star State--the first solid indication of trouble was the stop-start-stop construction of the 3.4-mile road course over the summer.

The second solid indication was a request made two months ago by Hellmund to the state comptroller. One of the unique aspects of the deal is that the State of Texas agreed to advance the Circuit of the Americas some $25 million per year from a dedicated trust fund designed to help host major annual events in the state. The Super Bowl, for instance, was a recipient of trust fund money, which is repaid from tax on the largely tourist-related business the state gets from the major event. The $25 million covers the annual sanctioning fee that Ecclestone is charging for the race.

In September, Hellmund asked the comptroller, who administers the fund, if things would change if the race had a different promoter. It would not necessarily change, the comptroller said.

The between-the-lines indication here is that Hellmund might have been looking for a way out, either assigning the F1 race deal he acquired through Full Throttle to Epstein or canceling the deal, with Epstein presumably requesting a new deal from Ecclestone. Either way, likely Hellmund would get some sort of buyout since he did all the heavy lifting on the racing end, using his contacts to secure the deals and initiate construction of the track.

Tacit confirmation of this comes from sources in Europe who say there was a meeting in Ecclestone's office in an attempt to iron everything out during the week before last month's inaugural Grand Prix of India. In attendance were Ecclestone, Epstein and Hellmund, and probably Sexton and a phalanx of attorneys. It was this meeting, unreported until now, upon which Ecclestone based his casual comments to the media at the race in India and this weekend in Abu Dhabi, that the holdup in Austin is an internal conflict within its management group.

By all accounts the meeting did not go well. Sources in Europe and the United States suggest that Epstein was offered a new contract but he has not signed it, presumably because he doesn't like the terms. Ecclestone hasn't been paid, and the state of Texas hasn't disbursed the $25 million from the trust fund. The rules say it can't until after Nov. 18, less than one year before the scheduled event. Even so, online inquires suggest that all of the applications, paperwork and meetings required to apply for the money have not been completed.

On Saturday, at the Grand Prix of Abu Dhabi, two weeks after Ecclestone made his internal-conflict statements in India, he had even harsher words about the Austin situation, telling the media that, “I wouldn't want to put my money down that it will happen.”

According to Reuters, this is how Ecclestone explained it: “What's happened is you've got a guy that owns the land and started building, and there's the guy that owns the company and has got a contract with us. And they forgot to talk to each other. The truth of the matter is maybe the people that have put the money down are perhaps a bit pissed off that he's getting some publicity and they are not and are saying, ‘We've got our money on the line, you haven't got any money on the line.' They are trying to get it together. I've said, ‘You guys have got to fall in love. Get married.'”

So far, no wedding date has been announced between Hellmund and Epstein, and time might be running out.

Both Sexton and Hellmund fired off prepared statements in response to Ecclestone's comments. Sexton essentially said that he has no idea what Ecclestone is talking about and that everything is fine.

Hellmund said, “It is now the responsibility of the Circuit of the Americas to make this project happen before Mr. Ecclestone's patience runs out.”

Which, reportedly, is a real concern. It is also notable that even though Hellmund is still listed as a founding partner of Circuit of the Americas, his above statement suggests he has apparently separated himself, at least in spirit, from the organization.

In a nutshell, Hellmund and Full Throttle have the contract for the F1 race, and Epstein wants it. Why he wants it, we can only guess: He doesn't trust Hellmund, or he needs the contract in his name to raise money. Maybe both or neither--since no one is talking beyond prepared statements, we may eventually find out only if this goes to court. And if that happens, it's a guarantee that Ecclestone's patience will run out. In addition, it's likely that the state would back away from offering up the $25 million if there is additional controversy attached. After all, Texas Gov. Rick Perry has enough problems in his bid to become president of the United States, doesn't he?

However, any suggestion that since Ecclestone now has a race scheduled in New Jersey--just across the river from Manhattan, for 10 years beginning in 2013--that he no longer needs Austin is incorrect. The New Jersey race has been percolating for years, all during the Austin negotiations, and the plan has always been to have two races in the United States, one in June, scheduled next to the Montreal race, and one late in the season.

Ecclestone would like to have two races, but let's face it: Despite all of the comments that F1 needs the States more than the United States needs F1, Ecclestone and F1 are doing just fine, and there are venues all over the world that want the product. The $25 million sanctioning fee for Austin is less than Ecclestone usually charges--India is paying something like $35 million--so by placing races in the United States, Ecclestone is arguably leaving money on the table regarding his fees, as he could place the races elsewhere for more money.

Many believe that Ecclestone gave his old friend Hellmund a deal because of their history--a conjecture vilified by those who insist that Ecclestone never gives anyone a break--but if it is true, it could be why Epstein didn't like the deal he was offered. The sanctioning fee might have been higher or required more of an upfront guarantee.

Regardless, the bottom line is that the deal needs to be done by the first week of December, when there is the final, no-turning-back meeting to set the 2012 F1 schedule. Could the Austin race be moved to 2013? It's possible, but not without penalties, and who would pay them?



Read more: http://www.autoweek.com/article/2011...#ixzz1dokNWbtN

Also FYI, I merged the 'Circuit of the Americas Progress' thread into the 'F1 to Austin TX' thread.

[sydude]

More bad news.

http://www.autoweek.com/article/20111115/F1/111119915

By Adam Cooper

The prospects of the United States Grand Prix in Austin actually happening suffered a blow on Tuesday when Texas state comptroller Susan Combs confirmed that no state funds would be paid out in advance of the event--if they are paid at all.

Combs, who visited the 2010 British Grand Prix and met with F1 boss Bernie Ecclestone, has been a keen supporter of the race from its inception. She has fought off any criticism of public money being used to fund an F1 race.

The race was built around the expectation that the state's Major Events Trust Fund would pay an annual sum of $25 million, which would, in effect, cover the sanctioning fee collected by Ecclestone. The trust-fund rules were adjusted to allow the F1 race to become eligible for its subsidy.

Sanctioning fees are always paid well in advance of races, and thus far none has been made to cover the inaugural Austin event, scheduled for November 2012.

In a statement issued by her office, Combs made it clear that the arrival of the New Jersey race in 2013 will have a negative impact on the Austin event, and she said she is concerned about the behind-the-scenes dispute between Tavo Hellmund, the original driving force behind the race, and those involved in running the Circuit of the Americas as a business.

She also said that money would be paid out only after the first race if the economic impact to warrant it could be demonstrated.

If the $25 million is not forthcoming, then the sums simply do not add up for those behind the Austin race, and thus the whole event could be under threat.

This is Combs's statement:

“It's no secret that I've supported Texas hosting a Formula One race since 2008. I believe a well-organized event of this magnitude can be a tremendous benefit to Texas if done right. Investors, businesses and event organizers want to come to Texas because we've developed an economic climate that is attractive, our state is a great location for events, and we've got space and potential to grow.

“A tool for recruiting large events to the state is the Major Events Trust Fund (METF), which was created by the Texas Legislature in 2003. In the past two years, eligible METF recipients have included the NFL Super Bowl XLV, the NBA All-Star Game and the NCAA Men's and Women's Final Four tournaments. The support provided by the METF comes from sales, hotel, beverage and other tax revenue generated by out-of-state visitors who attend the event.

“When the United States Grand Prix was formally announced, it was the only Formula One race scheduled in the U.S. During the past 18 months, organizers have taken many steps to bring high-profile motor racing to Central Texas, including the development of the Circuit of the Americas, and the announcement of the global MotoGP and V8 Supercar race series starting in 2013.

“The recent announcement of an annual Formula One race in New Jersey is a concern, as additional races have the potential to reduce the number of attendees to a Texas race, thereby decreasing the economic impact. Additionally, the reports of a slowdown in construction at the Circuit of the Americas, and recently publicized disagreements between the race rights-holder and the circuit developers have prompted speculation about whether the Austin race will even occur. The ongoing controversies are a concern and we will continue to monitor them.

“Let me state clearly: We have not paid out any money for the Formula One event. The only dollars that can be spent on the United States Grand Prix are tax revenues attributable to the successful running of a race. The State of Texas will not be paying any funds in advance of the event. Further, as is the case with all METF events, each application will be reviewed and analyzed for its likely economic impact, and only after the race occurs would any funds be disbursed.

“If an METF application is submitted, it will be thoroughly vetted and economic-impact data scrutinized based on the actual circumstances for that event. Ultimately, I am responsible for protecting the interests of Texas taxpayers, first and foremost. I will not allow taxpayer dollars to be placed at risk. My position on that has not changed.”



Read more: http://www.autoweek.com/article/2011...#ixzz1dojbu98z

[rslonaker]

And this...

http://www.statesman.com/blogs/conte..._construc.html

[rslonaker]

Didn't see this before, be sure to watch the BBC video news clip of DC in Austin with the Red Bull car, classic stuff!

http://news.bbc.co.uk/sport2/hi/form...e/15750083.stm

[sydude]

Thanks, Rob. Here's another proverbial nail in the coffin for the Austin F1 project. So very sad.


Game over for the U.S. Grand Prix and the Circuit of the Americas

Printed from AutoWeek.com

STEVEN COLE SMITH 8:20 am, November 16, 2011

Tuesday, Nov. 15, 2011, will go down as the day when the racing died in Austin, Texas. The 2012 Formula One United States Grand Prix and the track that would host it, the Circuit of the Americas, were dealt a one-two punch that seems unsurvivable--though neither the race nor the track has formally been pronounced dead.

Of course, neither has Texas Gov. Rick Perry's presidential campaign, but we all know how that's going.

The two punches that apparently finished off the race and the track, which have been ailing for six months, began when Texas comptroller Susan Combs, by far the biggest fan motorsports had in the state government, backed away on Tuesday from a gutsy incentive she helped engineer.

Using a special state trust fund which, more than 200 times, has provided money to encourage big annual public events to come to Texas, Combs was going to advance race organizers $25 million a year, to be repaid by the projected additional tax money generated from the event, mostly from tourists.

This $25 million, to be paid up to one year in advance of the U.S. GP, would have roughly covered the annual sanctioning fee to F1 honcho Bernie Ecclestone. This is a lot of money--probably double or triple a NASCAR Sprint Cup Series sanctioning fee--but it is also a comparative bargain, given what some race organizers in other countries must pay Ecclestone. This contract was assigned to Full Throttle Productions, headed by Tavo Hellmund, whose personal family relationship dating back 40 years with Ecclestone was an enormous factor in getting the deal. It was not assigned to the other two founding partners of the Circuit of the Americas, colorful businessman Red McCombs and Bobby Epstein, the low-key founder of a money-management firm.

So here comes Punch One: Comptroller Combs, clearly weary of the infighting inside the track organization, announced on Tuesday that she would not advance the $25 million to the organizers, which--had all gone well--could have been paid as early as Saturday. The debut F1 race was scheduled for Nov. 18, 2012, and the guidelines, particular to this one race event, said the money could be advanced as early as 364 days before the event takes place.

That option is gone. Now, the state would offer up the money after the race, assuming certain criteria were met. To get the race now, promoters would have to advance that $25 million out of pocket, assuming such a semisweetheart deal is even on the table. By all indications, it is not.

Which leads up to Punch Two: Financier and main money man Epstein--billionaire investor McCombs is reportedly in for less than 10 percent of the budgeted $300 million or so--would like to have Hellmund's 10-year F1 contract assigned to the Circuit of the Americas and not to Hellmund's Full Throttle Productions. Ecclestone has apparently offered Epstein a new contract, but not at the friends-and-family rate Hellmund received. For whatever reason, according to multiple sources, Epstein doesn't like the contract Ecclestone provided.

So later Tuesday afternoon, Circuit of the Americas, which apparently no longer includes cofounder Hellmund, issued a statement saying, "Organizers of Circuit of the Americas, a premier motorsports racing and entertainment venue being developed in Austin, Texas, are suspending further construction of the project until a contract assuring the Formula One United States Grand Prix will be held at Circuit of the Americas in 2012 is complete. The race contract between Formula One and Circuit of the Americas has not been conveyed to Circuit of the Americas per a previously agreed-upon timetable."

What "previously agreed timetable" is that? No one is talking. Presumably Hellmund expected to get paid for landing a 10-year F1 contract, a 10-year MotoGP contract, bringing Australian V8 Supercars to the United States, locating a site for the track, arranging for Hermann Tilke--the top F1 track designer in the world--to create it, and getting the State of Texas to advance the money for the sanctioning fee. Presumably he has not been paid what he expects. But again, no one is talking aside from prepared statements.

This is Hellmund's: "After years of effort in getting F1 to Austin, Full Throttle Productions and city, county and state officials have done all we could. It is the responsibility of Circuit of the Americas to bring it across the finish line."

In the past few months, there has been evidence that Epstein, who is used to running his own show, wants to run this one, too, which is sort of like George Steinbrenner insisting that he should coach his New York Yankees, except that Steinbrenner actually had some experience in baseball. Epstein may be guilty of thinking he can bluff or shame Ecclestone into awarding Austin a new sweetheart deal, but the F1 king has countries, tracks and promoters standing by, begging for a race. He does not need Austin, especially since he has the New Jersey race on tap beginning in 2013.

Thus, barring something that would qualify as a motorsports miracle, there will be no F1 race in Austin, which--according to Epstein's statement--means there will be no Circuit of the Americas, either.

So what will happen to this big, $40 million (that's dollars spent until now and a long way from what is needed for completion) mudhole near Austin? Perhaps the world's nicest RallyCross track? Presumably it could be completed as a less-ambitious, less expensive paved track, attracting lesser racing series, but only NASCAR Sprint Cup would essentially guarantee a profitable product, and Sprint Cup isn't coming to Austin.

Look at reality, and it has to be considered cautionary that IndyCar's recent, very successful Baltimore Grand Prix, which attracted a huge crowd for the street race, was unprofitable to the point where a second Baltimore race is not assured.

The only thing that seems certain in Austin is that it's just about time for lawyers to get involved. It's hard to imagine the plethora of lawsuits that could result from the Circuit of the Americas-Full Throttle conflict: the contractors, the designers, the suppliers? Oh, well.

Six months ago it seemed as if there was a gorgeous site just waiting to be one of the world's most interesting racetracks--a 10-year contract with the world's top auto and motorcycle series, adequate financing, happy politicians willing to help out, area businesses excited about the international crowd the races would draw, and subsequently all the building permits in place.

Now, nothing.

Tuesday, Nov. 15, 2011: Not a good day for race fans.

[oldredracer]

Originally Posted by cdh

Well I did an image search "Elle MAcPherson bowling" and did not find a photo of same....but I would not call it time wasted

That CDH is a funny dude.:rotflm ao:

[rcote]

http://formula-one.speedtv.com/artic...-be-called-off

[Slowhands]

Is it really this complicated?

http://www.autoweek.com/article/20111117/F1/111119835?

[cdh]

Thanks Slowhands. Judging by the pic, at least Hellmund and Bernie had a a lovely luncheon date

[Gerardo]

Here is a bit of optimism for us all! Austin's Circuit of the Americas is now set for an August completion!

http://www.racer.com/austin-track-se...MC-RACER_DAILY

[sydude]

U.S. GP founder Tavo Hellmund sues partners; copy of lawsuit here.

From Autoweek, link to the story below, and a full PDF copy of the lawsuit attached. I'm not two pages into the complaint, and there are already Juicy details.

Story here:

http://www.autoweek.com/article/2012...n=awdailydrive

Complaint here:

CW7848635.PDF

[dalyduo]

Reads like a Desperate Housewives script. Is the Austin track and F1 race on or not? Can't tell from the law suit?

[GregS]

Originally Posted by dalyduo

Reads like a Desperate Housewives script. Is the Austin track and F1 race on or not? Can't tell from the law suit?

i can feel the tears... totally agree

[Slowhands]

Originally Posted by dalyduo

Reads like a Desperate Housewives script. Is the Austin track and F1 race on or not? Can't tell from the law suit?

Bernie is likely approaching this the same way that he did for Korea, Bahrain, and India, i.e. it's on until it's not. He's got F1 operating like a "just-in-time" outfit, able to make go-nogo decisions close to the last minute. Korea and India worked out, Bahrain did not. I expect his official stance to be that it is on as far as he is concerned until these losers exceed his deadline for certainty, or stop work on the circuit. I don't expect him to divulge his own exasperation date publicly except on his own terms.

[cdh]

Originally Posted by Slowhands

Bernie is likely approaching this the same way that he did for Korea, Bahrain, and India, i.e. it's on until it's not. He's got F1 operating like a "just-in-time" outfit, able to make go-nogo decisions close to the last minute. Korea and India worked out, Bahrain did not. I expect his official stance to be that it is on as far as he is concerned until these losers exceed his deadline for certainty, or stop work on the circuit. I don't expect him to divulge his own exasperation date publicly except on his own terms.

Plus 1

[Rosso]

Originally Posted by Slowhands

...Korea and India worked out, Bahrain did not...

Texas is keeping interesting company
.

[sydude]

Three recent pieces on Austin from Autoweek:

Austin GP promoters continue to clash
Published on April 12, 2012

According to a report in the Austin American-Statesman newspaper, promoters and investors for the United States Grand Prix in Austin, Texas, are at another critical point in their ongoing dispute surrounding the Formula One race scheduled for November.

Tavo Hellmund—who conceived the project but who has subsequently filed a lawsuit against his partners, including investors Bobby Epstein and Red McCombs—and his Full Throttle Productions company are pushing forward with legal claims. According to the Statesman, Hellmund's attorneys have sent a letter to McCombs that claims “a buy-sell procedure [for the Circuit of the Americas track] began on Jan. 11, and the 90-day period for a relevant response expired Wednesday. The letter also claims McCombs now has until next Wednesday to say he will purchase Full Throttle's shares or McCombs's shares will be considered sold, with the closing on May 25.”

As the Statesman describes, this is what is known as a “push-pull” agreement whereby one side offers to buy out the other—but risks being bought out itself in the process.

If Hellmund and Full Throttle Productions were to obtain McCombs's stake in Circuit of the Americas, the letter reportedly says, “Full Throttle expects to hold over 40 percent of the equity of the company and have the power to appoint three of the company's five managers.”
According to the Statesman, McCombs declined comment.


Read more: http://www.autoweek.com/article/2012...#ixzz1uWdY9JlA

---------------


Red McCombs not selling Circuit of the Americas interest, spokeswoman says
Published on April 19, 2012


Representatives of Circuit of the Americas on Wednesday issued a statement about claims that Formula One circuit investor Red McCombs might sell a portion of his ownership interest in the facility to former circuit executive Tavo Hellmund. But Hellmund said that he will pursue McCombs's interest.

“To be clear, as Red McCombs has stated he has no intention of selling his ownership interests in Circuit of the Americas,” Julie Loignon, vice president of public and community relations said.

According to a report published on April 11 in the Austin American-Statesman newspaper, Hellmund—who conceived the project but who has subsequently filed a lawsuit against his partners, including investors Bobby Epstein and McCombs—and his Full Throttle Productions company are pushing forward with legal claims.

On Thursday, Hellmund, through a release, confirmed his intention of going forward with plans to acquire McCombs's interest in the facility.
“Yesterday, Red McCombs refused to honor the buy-sell provisions set forth in the company agreement. Full Throttle Productions therefore intends to enforce the buy-sell offer and acquire Mr. McCombs's interest.”

According to the Statesman article, Hellmund's attorneys sent a letter to McCombs that claims “a buy-sell procedure [for the Circuit of the Americas track] began on Jan. 11, and the 90-day period for a relevant response [has expired]. The letter also claims McCombs had until [April 18] to say he will purchase Full Throttle's shares or McCombs's shares will be considered sold, with the closing on May 25.”

“Earlier this week, Bobby Epstein confirmed in a letter to Full Throttle that he, too, is interested in acquiring a portion of Mr. McCombs's interest,” Hellmund's statement said. “Whether or not Mr. Epstein follows through with his plan, Full Throttle will ultimately own at least one-third of Accelerator Holdings. According to information provided by Mr. McCombs's legal counsel, this stake would in turn translate into a significant ownership interest by Full Throttle in Circuit of the Americas (COTA).”

Loignon, in the statement from Circuit of the Americas, said, “One of the partnerships Mr. McCombs has invested in is Accelerator Holdings LLC, which holds a minority interest in the Circuit of the Americas. Even if Mr. Hellmund was to acquire his pro-rata portion of Mr. McCombs' shares of Accelerator Holdings, that portion would represent an approximate 2 percent interest in Circuit of the Americas. As such, Mr. Hellmund could not influence the seven-member board structure or management of Accelerator Holdings, let alone the board, management team or operations of Circuit of the Americas.”

Read more: http://www.autoweek.com/article/2012...#ixzz1uWdm53WG

----------

Austin F1 group is marching to a different drummer
By: Steven Cole Smith on May 4, 2012

There is a little more than six months to go until the Formula One U.S. Grand Prix at the Circuit of the Americas, the road course under construction outside Austin, Texas: So what’s going on down there?

The Circuit of the Americas’ group of investors and executives are doing things their way, paying little attention to the U.S. F1 races that have gone before them. Hard to argue: F1 has never been genuinely successful on a long-term basis anywhere in the United States. Yes, there were some big crowds at Indianapolis, but F1 boss Bernie Ecclestone and Indy’s then-king, Tony George, couldn’t come to terms to keep the race there. Which is too bad, because if everyone had been happy with the results at the Brickyard, we’d be making plans for the 13th annual U.S. Grand Prix at Indianapolis.

Other relatively recent attempts to stage an F1 race in the United States met with an even shorter-term fate: Las Vegas, Detroit, Dallas, Phoenix . . . arguably the management of Circuit of the Americas is wise in not following any of those templates.

Indeed, judging from the executive staff, Circuit of the Americas is convinced that a major event is a major event, be it auto racing or horse racing, since president Steven Sexton came from Churchill Downs, as did Julie Loignon, vice president of promotion. Executive vice president Bruce Knox is a financier with the McCombs Group, headed by minority investor Red McCombs, the deep-pocketed Texas businessman. Chief financial officer Dan Allen’s previous work was mostly in the medical community, but his biography does say he was a member of a “1983 National Champion baseball team,” so he does have some sporting experience. And Geoff Moore, chief marketing and revenue officer, worked for the Dallas Stars hockey team. Racing experience? None. It’s not needed, apparently.

That had to be part of a plan, not an oversight. The implication: “We are not going to make the same mistakes previous F1 races did. We’re bringing some fresh sets of eyeballs to the development and promotion of F1 in the U.S.”

That plan presumably included the ouster of the man who did have motorsports experience, Tavo Hellmund, who undeniably did the heavy lifting in bringing F1 to Texas. He cut the deal with longtime family friend Ecclestone; he designed, engineered and named the track; he signed both Australian V8 Supercars as well as MotoGP motorcycle racing to race at the facility, and he was the voice, and the face, of F1 in Texas.

Then, a year ago, friction developed between Hellmund, chief investor Bobby Epstein and McCombs, which has never been explained entirely. Epstein and partners let the deal with Ecclestone lapse, again for no thus-far-explained reason, and Epstein then managed a last-minute, Hail Mary deal with Ecclestone, by all accounts at a less favorable rate than Hellmund’s original contract. There may be some reason for this other than squeezing Hellmund out of the deal he created, and perhaps it will come out in the lawsuit Hellmund has filed. But Ecclestone himself has said that he trusts Hellmund, who “picked the wrong partners,” so it seems unlikely Epstein wants Ecclestone testifying on his behalf.

Another fallout from the management mess is the apparent loss of the $25 million Circuit of the Americas would have received in advance of the race from a state fund that gives a subsidy to promoters of a one-time annual event, such as the Super Bowl. Hellmund cut that deal personally, but it became so tainted and such a political football during the clash between Epstein and Hellmund that the state of Texas now says it might pay Circuit of the Americas some money from the fund, but only after the race—and the amount would be tied directly to the tax revenue the event generates.

Which, listening to Circuit of the Americas management, won’t be a problem, since the inaugural F1 race scheduled for Nov. 18 is shaping up to be a blockbuster. Such a blockbuster, in fact, that until June, the track is only selling tickets that are attached to a Personal Seating License, or PSL. This means that you pay for your ticket, which is a “season pass,” getting you the F1 race and, when it is eventually scheduled, the Australian supercars. If Circuit of the Americas cuts deals for other races—and sources say a date for the American Le Mans Series is close to completion—you will pay extra for them. And on-site parking is extra, too, from $150 to $200, according to one Austin source, available only to PSL holders.

To say Circuit of the Americas is ambitious in pricing its tickets and PSLs is an understatement. The most expensive seat at the Monaco Grand Prix (not including the Paddock Club for serious high-rollers) is in the premium “gold” section—and costs $657. The top seat in the only permanent grandstand at Circuit of the Americas, on the front straight, is $1,250, and that does not include the $5,500 PSL or parking. The least expensive seat at Monaco, in the “bronze” section, is $303. At Circuit of the Americas, it’s $375 in the turn 15 grandstand, and that does not include the $1,500 PSL.

The PSL gets you essentially the right of first refusal for that seat for the next 15 years; it does not include a ticket, nor any guarantee that F1 will be there for 15 years. Selling a personal seat license for a spot on an aluminum bench on a temporary grandstand is unprecedented in motorsports, but if it works, the Circuit of the Americas staff will look like a bunch of geniuses.

And granted, while the “season pass” includes the Australian supercars, you have to wonder how many fans would come back for that race to get some value out of their PSL and ticket. According to the Circuit of the Americas projection for economic impact: “The Circuit of the Americas-hosted Formula One United States Grand Prix will attract as many as 300,000 people each Grand Prix weekend, with an estimated 80 percent of attendees coming from outside Texas.”

If 80 percent are coming from outside Texas, how many will want to board a plane or make the drive to return for Australian supercars? It’s a complete wildcard and could depend on scheduling. If the race is run during an off weekend for NASCAR Sprint Cup, some stars from that series could come to race. Or would they? NASCAR owns Grand-Am, and Grand-Am is working on a tie-in with Germany’s DTM touring-car series. So would it be interested in having its Cup drivers race in a competing series?

Additionally, the MotoGP schedule still holds a place for a race in Texas in 2013, but there is no mention of it on the Circuit of the Americas Web site. In fact, there have been suggestions that Circuit of the Americas may be looking to the AMA to fill the date, apparently reasoning that a motorcycle is a motorcycle. MotoGP is regarded as one of the most profitable forms of racing from a promoter standpoint, so it seems odd that Circuit of the Americas hasn’t figured out how to close that deal, especially because that series actually has American superstars competing in it.

Also, the 80-percent-from-outside-Texas for the F1 race is an eyebrow-raiser for another reason: Reportedly, for the last few Grands Prix at Indianapolis, more than 50 percent of the attendees came from within 300 miles of Indy. I won’t even address the 300,000 people-per-weekend projection, again assuming that Circuit of the Americas knows its business. The permanent grandstand at Circuit of the Americas, by the way, is expected to hold maybe 8,500, with temporary-grandstand seating bringing the total to maybe 55,000 to 60,000.

An additional concern is the fact that, with barely six months to go, Circuit of the Americas has no “official car of the race” lined up, and the only major sponsor deal announced is a co-promotion with Pirelli, which would be there anyway, because the tire company has a deal with Formula 1. Circuit of the Americas seems to be promoting the fact that it is building a track far more than it is promoting the actual racing. The planned Grand Prix in New Jersey, while more than a year away, has already scheduled F1 champ Sebastian Vettel to come drive the circuit next month as a publicity event. That’s the sort of thing you’d think Circuit of the Americas would be doing.

And while the track construction was undeniably behind schedule, work continues at a frenzied pace, and we are past the point of wondering whether or not it will be ready in November. Remember that Ecclestone needs three things to race: A track, fences and a garage. He does not care much about the rest. He has, after all, called the race attendees the “studio audience”—his money is made through sponsorships and television. It isn’t his problem if all the planned track facilities aren’t finished or how well the parking plan works—presently it calls for almost all parking at remote lots miles away, with fans bused in on official shuttles, which apparently won’t be free. This despite the fact that Circuit of the Americas is certifiably In The Middle Of Nowhere, surrounded by prairie that looks, to me, like a pretty good place to park. A rental car, anyway.

It’s tough to make money in the U.S. on F1. Ecclestone typically writes long-term contracts that escalate in price over the years, assuming, reasonably, that as the F1 race catches on, more and more people will come every year. That has not yet been the case in the United States. The novelty aspect typically means a big opening day, but then as the years pass . . . well, this is America, home of the world’s shortest attention spans and a million other things vying for our entertainment dollar. Escalating costs and declining attendance are a killer combination.

That said, there is no denying it: President Steve Sexton and his Circuit of the Americas staff are forging their own trail. Are they visionaries, or will they be lost in the wilderness? We will know in about six months.

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