Mexico has secured its return to the formula one calendar in 2015.
Tag Archive: Tavo Hellmund
Hellmund plans to raise between $60-75 million
The former mastermind of this weekend’s US grand prix in Austin, Tavo Hellmund, now has his sights fixed on returning formula one to Mexico. Hellmund fell out spectacularly with the eventual Circuit of the Americas management, but he will be at the track this weekend and has some key meetings planned.
The key backer of the scheduled 2012 US grand prix insists he remains committed to the Circuit of the Americas project.
Construction in Austin, Texas, has continued amid raging local media speculation, as lawsuits are pending and questions are constantly asked about the viability of the project commenced by the now offside promoter Tavo Hellmund.
“Our focus remains positive.” – Circuit of the Americas
Even amid the latest speed-bump, organisers insist they are still on schedule to host Austin’s inaugural US grand prix late this year. Circuit of the Americas backer Bobby Epstein is being sued by race founder Tavo Hellmund, but he did not want to talk about it whilst giving the Culturemap Austin publication a tour of the construction site.
Austin’s formula one project is close to collapse, with Bernie Ecclestone saying the event will fall off the 2012 calendar “for sure”.
With the Texas state funding also in jeopardy and track construction halted, the main problem is a disagreement between Tavo Hellmund – who held the original race contract – and the separate company that is building the Circuit of the Americas.
Austin’s formula one project continued to collapse this week, with news construction of the Circuit of the Americas has been halted.
A ten year deal for a waterside American grand prix amidst the New York skyline was announced officially on Tuesday.
New Jersey governor Chris Christie made the official announcement but the street race, to debut in mid 2013, will be privately funded, headed by Leo Hindery, a well-known American businessman and Le Mans class winner.
There are fears about the ongoing involvement in the 2012 US grand prix project of the race’s promoter Tavo Hellmund.
Hellmund has been the driving force behind the Circuit of the Americas in Austin, Texas, scheduled to host its first formula one race next November. But the slowing of construction work at the venue has been “noticeable” lately, according to the local Austin American Statesman newspaper.
The Circuit of the Americas however has already applied for the funding on the basis of the June date.
Organisers of the 2012 US grand prix have admitted that the proposed race date change will affect the timing of the approval of state funding. After Bernie Ecclestone said the inaugural Austin event will move from June to November on next year’s calendar, promoter Tavo Hellmund confirmed it was the date “I have been hoping for”.
An American FIA official has questioned the scheduled date for the inaugural US grand prix in Austin.
The World Motor Sport Council announced after its Barcelona meeting last week that the Circuit of the Americas, under construction in the Texan capital, will host its first formula one race in 2012 in mid June.
The venue for next year’s inaugural US grand prix in Texas has been officially named ‘Circuit of the Americas’.
The news was announced at the same time as a MotoGP event for 2013 was added to the new Austin track’s calendar. “We are building a destination for entertainment and business, not simply a race track, and this brand reflects that entire idea,” said promoter Tavo Hellmund in a press conference.