lsgworldl
01-22-2005, 01:19 AM
Red Bull F1 Racing owner Dietrich Mateschitz has abandoned plans to build a high-tech circuit in Austria.
The £385m project has been blocked by Austria's National Senate for the Environment, with no appeal possible.
Speaking on Austrian radio, Mateschitz said: "Our project in Spielberg is dead. We will not continue to pursue our plans."
The new circuit was to have been built on the site of the former Austrian Grand Prix track, the A1 Ring.
After the last F1 race held on there in 2003, Mateschitz bought the area to erect a new motor racing school and an aviation centre.
The energy drink tycoon's project would have created an estimated 2,000 jobs and given his new F1 team a home track.
Mateschitz said: "That's it for us. If Austria does not want a racing track, then there is no need for me to build one."
Austria hosted 26 Grand Prix between 1964 and 2003. The A1 Ring served as the venue seven times.
http://news.bbc.co.uk/sport1/hi/motorsport/formula_one/4191917.stm
The £385m project has been blocked by Austria's National Senate for the Environment, with no appeal possible.
Speaking on Austrian radio, Mateschitz said: "Our project in Spielberg is dead. We will not continue to pursue our plans."
The new circuit was to have been built on the site of the former Austrian Grand Prix track, the A1 Ring.
After the last F1 race held on there in 2003, Mateschitz bought the area to erect a new motor racing school and an aviation centre.
The energy drink tycoon's project would have created an estimated 2,000 jobs and given his new F1 team a home track.
Mateschitz said: "That's it for us. If Austria does not want a racing track, then there is no need for me to build one."
Austria hosted 26 Grand Prix between 1964 and 2003. The A1 Ring served as the venue seven times.
http://news.bbc.co.uk/sport1/hi/motorsport/formula_one/4191917.stm