GP of America in NJ Discussion and Speculation

Yep. Good questions. The street race also makes it harder to attract investors. There just aren't enough assets & no ability to hold other races or track days, etc, to provide revenue.

 

All reasons why street races almost never last longer than ~3 years.
In this particular case between the refusal to spend public funds and the insurmountable access problem for residents and small business owners it was just never going to happen.

 

+1

 

Looks like a no for next season...

Source

 

& there ya go.

[ame]www.youtube.com/watch?v=Zf0ZyoUn7Vk[/ame]

 

Not happening next year for sure. Just got this email


"Grand Prix of America at Port Imperial postponed

WEEHAWKEN, N.J. (Dec. 4, 2013) The Grand Prix of America at Port Imperial, a Formula One World Championship race slated for June 2014 on the streets of Weehawken and West New York, N.J., has been postponed. GP America executive chairman and promoter Leo Hindery, Jr., and his team are working on restructured financial arrangements for a 2015 race.

Hindery acknowledged the challenge of completing the intricate financial structure for the event, which will run on a 3.2-mile temporary street circuit along the Hudson River, with the New York City skyline as the backdrop.

"Our entire management team and our supporters in New Jersey, New York and throughout the Formula One community obviously want to see the inaugural Grand Prix of America at Port Imperial take place as soon as possible," he said. "Bringing a world-class race to the world's largest media market is a huge undertaking that has required balancing construction of our road course, without tapping any public money, with the Sport's own timing demands.

"I want to thank Formula One Management, New Jersey Governor Chris Christie, Mayors Richard Turner and Felix Roque, Roseland Property Company and the other local property owners involved for their patience while we've worked to get this right so that we can finally go racing in 2015."

Bernie Ecclestone, Formula One Management president and chief executive officer, is looking forward to a first-class inaugural Grand Prix of America in 2015.

"There is great demand for a race in New Jersey and I have no doubt we'll be racing at Port Imperial in 2015," he said. "New races can take many years to get started, but there is significant momentum and we are close to realizing a New York City F1 race."

Christopher R. Pook, GP America special assistant to the chairman, noted the complexity of creating the first Formula One event in the New Jersey/New York area.

"This is a very complicated circuit and incredibly important to the overall Formula One program in North America," he said. "To get it right in New York will greatly increase awareness of Formula One and motor racing across the continent. I remain very confident about this event."

The Grand Prix of America at Port Imperial will run on a 3.2-mile temporary street circuit in Weehawken and West New York, N.J., along the Hudson River and across the top of the Palisades cliff, with the New York City skyline as the backdrop. More than 100,000 people are expected to attend the three-day event, most arriving by public transportation. The race, which will receive no government subsidies, is expected to generate more than $100 million in annual economic benefits for New Jersey and New York.

Fans can get information about the Grand Prix of America by signing up for the GP America mail list at GP America.

– gpamerica.com –

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Copyright © 2013 GP America, All rights reserved.
You are receiving this email because you opted in on our website.
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New York, NY 10174"

 

Fixed it for you.

 

Just saw this today.

Exclusive: Permanent New Jersey F1 track has been considered admits Ecclestone - Pitpass.com

 

Doesn't look good. If Bernie's "dream" was to have a race with Manhattan skyline in the background he'd find a way to do it. Waive sanction fee or part of for first few years etc... but let's face it, money talks and I think he'd rather dream of being richer than hosting a race in one of the world's best cities.

 

No way it's happening. It was doomed from the beginning. No big money backers, street race and liberal east coast is a bad combination. NJ isn't Texas(Thank God) ;-)

 

http://www.gpupdate.net/en/f1-news/305057/ecclestone-slams-new-jersey-organisers/

6 January 2014 – F1 boss Bernie Ecclestone has hit out at the organisers of the Grand Prix of America and has said he would welcome it if someone else took over the promotion of the New Jersey event.

“What is amazing with New Jersey is that the people signed a contract,” Ecclestone told Autoweek recently. “You have got to assume they knew what they had signed. They should have never made the commitment. We could sue them. They are in breach.”

The race in New Jersey was included on the provisional F1 schedule for 2013 and 2014. However, both times it was dropped due to logistical and financial issues.

“We gave them money and I have never seen anything from them. I've kept it going [though] because somebody might come up and there has been two or three people who are interested and are looking into it. If anyone comes in today, they can have it,” Ecclestone continued.

“All it needs is somebody serious to come up and say we will get behind this and make it happen. I have given [GP America executive chairman and promoter, Leo] Hindery [Jr.] too much leeway.

“[But] I wanted to believe that he would do it.”

Ecclestone’s comments are in stark contrast to what he said at the start of December, when he noted he had ‘no doubt’ the event would take place in 2015.

The promoters of the event insisted then that they were working on 'restructured financial arrangements' for a race in roughly twelve months time.

 

Heavy is the head that wears the crown...

CW

 

With the way countries and promoters are losing money in so many F1 events worldwide, you have to assume they must be stupid to desire to do business with this guy.

 

Depends on the venue. If fans show up then a GP is a big boost for the economy.

So Austin works but Shanghai doesnt

NY would be a hit

 

"We could sue them. They are in breach."

I think you are making enough court appearances lately Bernie.

 

So now after this most recent news are the planning going back to Monticello as first reported in 2010...this is getting out of hand. Here's the article from 2010.

Formula One returning to the U.S.? Monticello Motor Club talks to Bernie Ecclestone - Autoweek

Or is it a completely new venue?

At this point, If anything is going to happen it needs to happen before Bernie kicks the bucket. That is the sure way to kill any NYC area hopes.

 

Most exciting small cities - MSN Real Estate


Look at number one in this story, and you will understand why it is in this thread. Had no idea, but makes more sense to have an international event here.

 

N.J. Is a great state but I wonder what effect this week's news will have on its reputation.

 

One voice: This Midwesterner feels it will have absolutely on effect at all; NJ already was the just about the last state I would willingly choose to visit.

 

N.J. Gets a bad rap unfairly. Most of the state is lovely.

The government on the other hand...

 

NJ really is amazing. Sadly the more congested parts and the government are awful.