rabbit
10-28-03, 12:56 AM
LINK (http://www.phillyburbs.com/pb-dyn/news/255-10242003-184130.html)
Podziba would not identify whom the city is talking to, but, according to the article, it is most surely Formula One and CART.
It was pointed out that if the city decided to build a temporary structure, the cost with sanction fees could easily top $40 million. That information came from motorsports consultant Tim Frost. The sanction fee could run as high as $20 million for a Formula One race.
Of course they could always go for a permanent facility and that would cost anywhere between $100 million and $200 million, according to Frost.
City officials may want to talk with some of the others in the U.S. who have tried to run Formula One events. It is a hugely expensive venture, and dealing with Bernie Ecclestone, the man in charge of Formula One, can be a very trying experience.
Another big problem is the fact that New York City is not looking to pay for the construction of anything, so the promoter would bear the burden. So it would seem that a temporary circuit would be the way to go.
It is interesting that none of the New York City officials have mentioned NASCAR Winston Cup racing. That might guarantee the success of the event but it would seem highly unlikely that NASCAR would want to do that whether it was on a temporary or permanent course.
Podziba would not identify whom the city is talking to, but, according to the article, it is most surely Formula One and CART.
It was pointed out that if the city decided to build a temporary structure, the cost with sanction fees could easily top $40 million. That information came from motorsports consultant Tim Frost. The sanction fee could run as high as $20 million for a Formula One race.
Of course they could always go for a permanent facility and that would cost anywhere between $100 million and $200 million, according to Frost.
City officials may want to talk with some of the others in the U.S. who have tried to run Formula One events. It is a hugely expensive venture, and dealing with Bernie Ecclestone, the man in charge of Formula One, can be a very trying experience.
Another big problem is the fact that New York City is not looking to pay for the construction of anything, so the promoter would bear the burden. So it would seem that a temporary circuit would be the way to go.
It is interesting that none of the New York City officials have mentioned NASCAR Winston Cup racing. That might guarantee the success of the event but it would seem highly unlikely that NASCAR would want to do that whether it was on a temporary or permanent course.