APRIL 26, 2003
Mateschitz planning Austrian revival
The boss of Red Bull Dietrich Mateschitz, who will become the owner of the A1 Ring later this year, says he is going to make big investments in the Austrian facility, including a hotel complex, a private university and a flying school. Mateschitz is also believed to be trying to win back the Austrian Grand Prix and had a number of meetings at Imola to that end, including one with Bernie Ecclestone and another with FIA boss Max Mosley.
Mateschitz's desire to keep the event on the F1 calendar could be successful if he is willing to pay large sums of money to compete with the races outside Europe, which are paying up to $40m a year for the right to hold a race. It remains to be seen whether money alone will be enough to keep the race on the F1 calendar as most of the threatened European races are currently trying hard to remain in favor with the F1 authorities and something has to give way somewhere...
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