Hellmund said the problem was caused by a rift between Full Throttle Productions
and COTA. He said he tried to buy them out, but they declined, then he
agreed to allow COTA to buy him out but they have not yet reached a deal.
“I don’t really want to get into the weeds about that. Let’s just say there’s
been a difference of philosophy and for the good of the project I’m willing
to do whatever it is for the project to go forward,” he explained.
The prospects of the race going ahead as planned in November next year were
fading fast with construction halted at the track after COTA officials said
they wanted to see a contract, then state government officials ruling out
the possibility of a public bailout.
But COTA president Steve Sexton indicated on Thursday that a 2013 startup
might be a possibility and Hellmund said he was still optimistic that 2012
could be saved.
“I was encouraged today to see some news reports that the door is still
open for us to be able to fix that,” Hellmund said.
“And I’ve also been encouraged in recent days to see that apparently all
the funding’s in place. And so with that being said I’m really optimistic
and hopeful that we’re going to get this done and we’re going to have a
Grand Prix next year.”