AUSTIN (CN) - The problem-plagued return of Formula 1 auto racing to the United States has hit another speed bump, as the founder and former promoter of the race sued his former project partners, claiming they froze him out of the project.
Tavo Hellmund and Full Throttle Productions sued six LLCs and four people,
Robert Epstein, Irv Kessler, Kurt Rechner and Rad Weaver, in Travis County Court. All the defendants are involved in the coming November's inaugural United States Grand Prix at the Circuit of the Americas, under construction in Travis County.
Hellmund claims in his complaint that he spent 7 years doing the footwork: designing the track and support facilities and securing the rights to host Formula 1, MotoGP and Australian V8 Supercars races in Texas, but he lacked the funding.
He claims that It says "financial moguls" Epstein and Billy Joe "Red" McCombs were given a 75 percent interest in the project in exchange for providing capital to build and operate the track...more