Austin F1 track construction starts in December

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We discussed the Austin-based USGP in this weeks podcast and the words of promoter Tavo Hellmund regarding the location and financial backing of the race. To that point, we thought we’d follow up with our thoughts with this update:

According to Austin News, construction is to begin on the new circuit in December of this year and progress for a completion date in June 2012 just ahead of the proposed date of the grand prix.

A source close to the project said groundbreaking will take place in December.

The track should be complete by June 2012, with the racing series debuting here shortly after. The series is scheduled to run through 2021, but officials have not yet released the location of the track.

Oddly no one is quite sure where this circuit is to be built and I find that interesting as many city officials and state representatives surely are involved in the planning and civil engineering portion of this project to know the location but no one has spilled the beans yet. You have to hand it to Tavo, he’s put a tight lip on everyone involved to not have something like the location of the track surface in the public media.

Tavo also said he has the financial backing to build the circuit with some mystery investors who will remain nameless according to their deal and that is comforting and worrisome on some levels. I recall Mr. Gillett, of Donington Park, saying something similar only to find out the plan was a debenture program which is always a major gamble.

We’ll keep you posted as to the location and any further developments as we see them. Good luck Tavo, we’re all counting on you.

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