Thread: F1 Austin
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      11-17-2011, 09:58 AM   #182
E90SLAM
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Bernie is either blowing smoke, making Media hyper about the upcoming new season, or just putting pressure of the constructor/organizers of the Austin GP.

Quote:
Bernie Ecclestone is on the verge of axing the United States Grand Prix before even its first edition.

Earlier this week, construction on the Circuit of The Americas ground to a halt because of a dispute between Formula One, race promoters and developers.

Tavo Hellmund's Full Throttle Production was believed to own the rights to host the race, however, the contract was recently cancelled by Ecclestone after Hellmund was found to be in breach.

And although Ecclestone attempted to agree a deal with the Circuit of The Americas, COTA claimed in a statement that "the contract between Formula One and Circuit of The Americas has not been conveyed to Circuit of The Americas per a previously agreed upon timetable."

This has thrown the race's place on the 2012 calendar into doubt with Ecclestone saying the only reason there is no contract is because COTA have not issued a guarantee that the F1 supremo will be paid.

"We've done everything we bloody well can do to make this race happen," Ecclestone told Press Association.

Explaining the situation, the 81-year-old said: "We had an agreement with Full Throttle Productions.

"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."

Pressed as to whether the United States GP will be dropped when the official calendar is revealed on December 7th, Ecclestone said: "Yes, it will be, for sure, 100 percent."
http://planetf1.com/news/3213/731233...P-Will-Be-Axed
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