Quote:
Originally Posted by JHamilton
I don't think the track will be ready next year and am still very skeptical that it will get built at all.
1. I'm not convinced they have the $250mil together for the proposed design...
|
I have wondered about this too. Red McCombs is a rich guy but is he dumb enough to fund this whole project himself? Maybe, but that seems unlikely. So where is the rest of the money coming from?
The other name mentioned in connection with the financing is Bobby Epstein, who owns what appears to be a very low-profile investment firm in Austin. But there is very little information in the public domain about Epstein--they don't even have a Web site. How much money does he have? What investors has he recruited for the project?
One fact that I came across is that he or his firm was the primary owner of Wandering Creek, a piece of land once intended to become a housing development and that now makes up a big chunk of the F1 site. If his housing development plans fell through during the financial crisis, then I guess he would be interested in seeing his land used for another purpose, especially one that was destined to receive a $250M subsidy from the state of Texas.