Wednesday, 16 November 2011

Latest nail in Austin's Formula One coffin: F1 boss Bernie Ecclestone cancels contract

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 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.Wait a second… Tavo Hellmund is happy? Now that’s a new take on the situation, and it suggests there is more at play than meets the eye.Circuit of the Americas appears to have way underestimated the power of Hellmund, a close, life-long friend of Ecclestone. Without Hellmund, COTA lost the direct contact and Ecclestone’s trust.Now they need to show him the money. The one thing that is clear is that the U.S. Grand Prix, set to run exactly one year from Friday, may not be dead, but Bernie Ecclestone is reading it last rites.

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