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Ecclestone prepared to axe Texas race

Bernie Ecclestone says the Austin Grand Prix could be dropped if the contract issues currently in place can't be ended
F1 boss Bernie Ecclestone has warned that he is ready to drop the Austin Grand Prix from the 2012 calendar after news emerged of a rift between race organisers.

It was revealed on Tuesday that work has ground to a halt at the Circuit of the Americas [See separate story HERE] after a dispute between the people in charge of the circuit, and Full Throttle Productions – the company holding the contract to host the race.

The argument between the two parties centred on the fact that the circuit wanted to have the contract in place for the race itself, although it has now emerged that there is in fact no deal in place with anyone for the race after the deal with FTP and its boss Tavo Hellmund was cancelled.

Speaking to the Press Association, Ecclestone revealed he had been talking with the Circuit of the Americas about taking over the contract but that no agreement had been reached as he hadn't received a guarantee that payments would be made.

"We had an agreement with Full Throttle Productions,” he said. “Everything was signed and sealed, but we kept putting things off like the dates, various letters of credit and things that should have been sent, but nothing ever happened.

"Then these other people (COTA) came on the scene, saying that they wanted to do things, but that they had problems with Tavo. They said they had the circuit, and that they wanted an agreement with me. I told them they had to sort out the contract with Tavo, which they said they would. But that has gone away now because we've cancelled Tavo's contract as he was in breach.

"We've waited six months for him to remedy the breach. He knows full well why we've cancelled. He's happy. But these other people haven't got a contract. All we've asked them to do is get us a letter of credit.

"We are looking for security for money they are going to have to pay us. That is via a letter of credit, normally from a bank. If people don't have the money they find it difficult to get the letter of credit, and so we don't issue a contract."

Without a contract, work is highly unlikely to restart any time soon and Ecclestone said there was a real risk that the race would now be dropped from the 2012 calendar when the FIA World Motor Sport Council meets next month in New Delhi.

"Yes, it will be, for sure, 100 per cent," he replied when asked if the race was in danger of losing its slot on the calendar. "We've done everything we bloody well can do to make this race happen."



Related Pictures

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Bernie Ecclestone (GBR)
Bernie Ecclestone (GBR)
11.11.2011- Bernie Ecclestone (GBR), President and CEO of Formula One Management
07.09.2014 - Race, Lewis Hamilton (GBR) Mercedes AMG F1 W05 and Bernie Ecclestone (GBR), President and CEO of FOM
07.09.2014 - Race, Jean Todt (FRA), President FIA and Christian Horner (GBR), Red Bull Racing, Sporting Director
07.09.2014 - Race, Fabiana Flosi (BRA), Wife of Bernie Ecclestone and Christian Horner (GBR), Red Bull Racing, Sporting Director
07.09.2014 - Race, Fabiana Flosi (BRA), Wife of Bernie Ecclestone and Afef Jnifen (TUN), wife of Marco Tronchetti Provera (ITA), Pirelli`s President
07.09.2014 - Race, Fabiana Flosi (BRA), Wife of Bernie Ecclestone and Afef Jnifen (TUN), wife of Marco Tronchetti Provera (ITA), Pirelli`s President
06.09.2014 - Jean Todt (FRA), President FIA
06.09.2014 -  Lawrence Stroll (CDN) Mont Tremblant Race Circuit Owner.
06.09.2014 - Bernie Ecclestone (GBR), President and CEO of FOM
06.09.2014 - Emanuele Pirro (ITA), FIA Steward
06.09.2014 - Dr. Angelo Sticchi Damiani (ITA) Aci Csai President and Jean Todt (FRA), President FIA
06.09.2014 - Lewis Hamilton (GBR) Mercedes AMG F1 W05 and Jean Todt (FRA), President FIA
06.09.2014 - Nicola Todt (FRA), Manager of Felipe Massa and Jean Todt (FRA), President FIA
06.09.2014 - Dr. Angelo Sticchi Damiani (ITA) Aci Csai President and Jean Todt (FRA), President FIA
06.09.2014 - Jean Todt (FRA), President FIA and Nicola Todt (FRA), Manager of Felipe Massa
06.09.2014 - Nicola Todt (FRA), Manager of Felipe Massa and Jean Todt (FRA), President FIA

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Taipan

November 17, 2011 10:15 AM

If Bernie really wanted this race I'm sure he would make it happen some how. Seems like now that the New York is on the table he's lost interest in Austin, he obviously sees New York as a bigger cash cow and we all know that cash is behind everyone of his moves.

Caroline - Unregistered

November 17, 2011 10:54 AM

Austin have until the 7th of December to honour the agreement that they made with FOM the promoters and COTA, or no race (probably). It seems Austin want the race for free, but I doubt CVC or the teams would be happy racing for nothing.



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