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Formula 1
F1: Ecclestone Frustrated With Austin Situation
Bernie Ecclestone is not confident in COTA’s ability to fund the United States Grand Prix over the long term...
Bernie Ecclestone is skeptical about COTA's ability to pay for its scheduled event. (Photo: Getty Images)
The chances of a US GP taking place in Austin in 2012 should become clearer this week as COTA has until Wednesday to conclude a deal with Bernie Ecclestone.
The F1 boss is keen to have an answer well before the meeting of the World Motor Sport Council in Delhi, India, on Dec. 7, where he will present a definitive 2012 schedule.
Ecclestone cancelled the original contract with Tavo Hellmund, and COTA was offered a revised one, which has not yet been signed.
Ecclestone has made it clear that he is not confident in COTA’s ability to pay for the race over the long term, especially after the $25 million promised by Texas State Comptroller Susan Combs failed to come to fruition.
“What’s more important than money in the bank is we want security for the future, so we’ve tried to help them with that,” Ecclestone told SPEED.com. “We want a letter of credit up front before every race.
“We want to know that next time it’s going to happen again. We’re changing the calendar a lot to accommodate these people, and if suddenly they’re not there, we’re in trouble.
“It’s not just the $25 million; that’s a small part of it. It’s the whole package. Everybody else seems to be happy and comply. I think the problem is a simple one: They never had the money. It’s simple.”
Ecclestone makes no bones about his frustration with the situation.
“We deal with the promoter and that was Tavo, and it’s up to him to respect the contract. He didn’t, couldn’t, and we terminated the contract.
“I’ve spent more time with these people and these races in the States than anybody else. India’s come and gone and other places have come and gone, and we’re still messing around.
“I expect people to do what they say they’re going to do, which is what I do.”
Asked if he was disappointed with Hellmund, Ecclestone said: “I was disappointed insofar as he had what he thought were partners that could finance the business and wouldn’t let him down. Really, they let him down and they’re trying to steal from him, get him out of it, and do the whole thing themselves.”
However, Ecclestone said he had no problem with Hellmund personally: “With him, not at all, not in any shape or form.”
He also confirmed that the contract now in COTA’s hands is different from the one that Hellmund had.
“Different insofar as their deal with Tavo, knowing that they were going to be the people bankrolling him, and knowing what happened to them, we don’t feel that they are reliable as they should be," Ecclestone said.
“They have a contract, which if they want to sign it, they’re OK, and if they don’t, it’s OK as well.”
Regarding the version returned to him by COTA, Ecclestone said: “They’re not in a position to do that. Well, they are and they have, but we are not interested.”
Adam Cooper notched up his 26th season as a racing journalist in 2010. He has written about F1 for SPEED.com since 2005. Follow him on Twitter.
The F1 boss is keen to have an answer well before the meeting of the World Motor Sport Council in Delhi, India, on Dec. 7, where he will present a definitive 2012 schedule.
Ecclestone cancelled the original contract with Tavo Hellmund, and COTA was offered a revised one, which has not yet been signed.
Ecclestone has made it clear that he is not confident in COTA’s ability to pay for the race over the long term, especially after the $25 million promised by Texas State Comptroller Susan Combs failed to come to fruition.
“What’s more important than money in the bank is we want security for the future, so we’ve tried to help them with that,” Ecclestone told SPEED.com. “We want a letter of credit up front before every race.
“We want to know that next time it’s going to happen again. We’re changing the calendar a lot to accommodate these people, and if suddenly they’re not there, we’re in trouble.
“It’s not just the $25 million; that’s a small part of it. It’s the whole package. Everybody else seems to be happy and comply. I think the problem is a simple one: They never had the money. It’s simple.”
Ecclestone makes no bones about his frustration with the situation.
“We deal with the promoter and that was Tavo, and it’s up to him to respect the contract. He didn’t, couldn’t, and we terminated the contract.
“I’ve spent more time with these people and these races in the States than anybody else. India’s come and gone and other places have come and gone, and we’re still messing around.
“I expect people to do what they say they’re going to do, which is what I do.”
Asked if he was disappointed with Hellmund, Ecclestone said: “I was disappointed insofar as he had what he thought were partners that could finance the business and wouldn’t let him down. Really, they let him down and they’re trying to steal from him, get him out of it, and do the whole thing themselves.”
However, Ecclestone said he had no problem with Hellmund personally: “With him, not at all, not in any shape or form.”
He also confirmed that the contract now in COTA’s hands is different from the one that Hellmund had.
“Different insofar as their deal with Tavo, knowing that they were going to be the people bankrolling him, and knowing what happened to them, we don’t feel that they are reliable as they should be," Ecclestone said.
“They have a contract, which if they want to sign it, they’re OK, and if they don’t, it’s OK as well.”
Regarding the version returned to him by COTA, Ecclestone said: “They’re not in a position to do that. Well, they are and they have, but we are not interested.”
Adam Cooper notched up his 26th season as a racing journalist in 2010. He has written about F1 for SPEED.com since 2005. Follow him on Twitter.
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