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SBD/August 26, 2013/Events and Attractions
Ecclestone Says N.J. F1 Race Will Not Happen, Organizers "Haven't Got Any Money"
Published August 26, 2013
SOUTH OF THE BORDER: AUTOSPORT.com's Jonathan Noble reported Mexico is "poised to make a surprise return" to the F1 calendar in '14. Sources said that it is to be "awarded a provisional slot in next year's schedule." Although teams "have not yet been given a draft calendar," Ecclestone is "intending to pencil in a race in Mexico City." With recent plans for a race in Cancun "having been dropped," former Circuit of the Americas Managing Partner Tavo Hellmund "has been working hard on the Mexico City plan" (AUTOSPORT.com, 8/25).
CIRCUIT BREAKER: In London, Sylt & Reid reported N.Y.-based asset management firm and F1 stakeholder Waddell & Reed has "invested in Circuit of the Americas." The move gives F1 "closer links" to the U.S., where it is "trying to break into the market." Gaining a foothold there "is understood to be an important part of revving up the stalled plans to float F1 on the Singapore stock exchange." Documents show that Waddell & Reed provided $11.8M of the debt on the facility that "is due for repayment" between '17 and '18. The firm last year paid $1.6B for a 20.9% stake "in F1's parent company Delta Topco." The transaction with COTA brings Waddell & Reed's F1-related investments to 7.6% of its net assets. It is a "higher amount than that for any of its other investments" except for gold bullion, which accounts for 9% (London TELEGRAPH, 8/25).