Date:Thursday November 17 2011
Formula 1 supremo Bernie Ecclestone is set to end the saga behind the Circuit of The Americas and drop it from next seasons calendar.
Ecclestone hinted that the Grand Prix was in doubt while in Abu Dhabi earlier this month and this week, construction of the proposed $250 million purpose built track was suspended following a contract dispute between the race organisers.
'We've done everything we bloody well can to make this race happen,' Ecclestone told the Press Association.
When asked if the event was at risk of being dropped from the 2012 calendar, Bernie replied: 'Yes, it will be for sure, 100 per cent.'
The circuit was reportedly set to be ready to host their first United States Grand Prix towards the end of the 2012 Formula One season and previous reports had suggested that they would continue to host the event until 2021.
Funding was reportedly in place and the construction work was supposedly on schedule.
Over 300 people had been working on the site to prepare the circuit, but they were told on Tuesday to down tools indefinitely, while a contractual dispute between Formula One officials and the track promoters was resolved.
It had initially been reported that the Texas promoters had yet to receive an official contract from Formula One Management however Bernie Ecclestone has clarified the situation.
'we've cancelled Tavo's [Hellmund - Full Throttle Productions] contract as he was in breach.
'We've waited six months for him to remedy the breach. He knows full well why we've cancelled. He's happy. But these other people haven't got a contract. Bernie said.
Full Throttle Productions were the company behind the initial agreement that was struck between Formula One Administration in May 2010.
However now that the original deal with United States Grand Prix chief Tavo Hellmund was cancelled by Ecclestone, that has left the track developers, the Circuit of The Americas without a contract, hence the suspension of construction.
Ecclestone says the reason why they have yet to receive a contract is because he is yet to receive a guarantee of payment from Circuit of The Americas [COTA] to pay the fee for hosting the event, reportedly $25million [£15.8million].
All we've asked them to do is get us a letter of credit.
'We are looking for security for money they are going to have to pay us. That is via a letter of credit, normally from a bank. If people don't have the money they find it difficult to get the letter of credit, and so we don't issue a contract.' Ecclestone concluded.
Representatives of the Circuit of the Americas have apparently declined to comment, while the Texas state government issued a statement saying that the money that had been put aside to pay the sanctioning fee to Formula One would not be paid until after the first race.
It is thought the announcement of the New Jersey race in 2013 has made the event less appealing for the state, as the economic benefits for hosting the race will decrease with two races in the USA.
It is believed COTA will have until the World Motor Sport Council meeting in New Delhi on December 7th to resolve the dispute.
If that matter hasn't been resolved by this date, it is likely the event will be cancelled and Formula One will have to wait until 2013 before it heads back to the USA for the newly announced event in New Jersey.
Date:Thursday November 17 2011
Some drivers don't deserve to be in F1 says Lewis (Friday February 24 2017)
Bottas targets F1 title (Friday February 24 2017)
Renault take Red Bull aero expert (Thursday February 23 2017)
Pirelli already making excuses? (Thursday February 23 2017)
Williams adds new head of aerodynamics (Wednesday February 22 2017)
Renault engine can beat Mercedes (Wednesday February 22 2017)
Allison announced at Mercedes (Tuesday February 21 2017)
McLaren heading into another year of the unknown (Tuesday February 21 2017)
New deals for Wolff and Lauda (Monday February 20 2017)
Wehrlein sidelined due to back injury (Monday February 20 2017)
Williams backs F1 budget cap (Monday February 20 2017)
Sauber launch 2017 car (Monday February 20 2017)
Hamilton sends warning shot to Bottas (Friday February 17 2017)
F1 to break the US market (Thursday February 16 2017)
Rosberg doesn't agree with his replacement (Wednesday February 15 2017)
F1 pecking order unlikely to change (Tuesday February 14 2017)
Important Pirelli tyre test ends early (Monday February 13 2017)
Red Bull confidence builds as momentum grows (Friday February 10 2017)
Todt believes F1 doesn't need changing (Thursday February 9 2017)
Bahrain & Hungary to host 2017's in-season tes (Wednesday February 8 2017)
Ford not interested in joining F1 (Tuesday February 7 2017)
Wolff backs Bernie's influence (Monday February 6 2017)
Ecclestone will not attempt to destroy F1 (Monday February 6 2017)
2017 Formula One Calendar (Friday February 3 2017)
Brawn becomes F1 director (Thursday February 2 2017)
Ecclestone still welcome (Wednesday February 1 2017)
F1 shake up (Tuesday January 31 2017)
Manor collapse (Monday January 30 2017)
F1 is what I love to do says Massa (Tuesday January 24 2017)
Rosberg lacked passion for F1 (Monday January 23 2017)
Ecclestone wants to tear up the rulebook (Friday January 20 2017)
Renault bidding to match Mercedes (Thursday January 19 2017)
How long has Bottas joined Mercedes for? (Wednesday January 18 2017)
New optimism for McLaren (Wednesday January 18 2017)
British GP fate being discussed with F1 bosses (Tuesday January 17 2017)
Bottas announcement expected (Monday January 16 2017)
Australia prepares for 2017 F1 (Friday January 13 2017)
F1's new owners could save British Grand Prix (Thursday January 12 2017)
Paddy Lowe leaves Mercedes (Wednesday January 11 2017)
Pirelli uncertain over new 2017 tyres (Tuesday January 10 2017)
Silverstone considers dropping British Grand Prix (Monday January 9 2017)
Formula One to lose 1 team from the grid (Monday January 9 2017)
Sky and Channel 4 announce F1 races for 2017 (Monday January 9 2017)
Ricciardo would not swap Red Bull for Merc (Friday January 6 2017)
Expect field to be spread in 2017 says Newey (Thursday January 5 2017)
Red Bull can provide a benchmark for Renault (Wednesday January 4 2017)
Haas just a stepping stone for Magnussen? (Tuesday January 3 2017)
Hamilton against another reshuffle of mechanics (Monday January 2 2017)
Renault project will take time says Hulkenberg (Friday December 30 2016)
Toro Rosso to rebrand engines? (Thursday December 29 2016)
Williams pays tribute to Symonds (Wednesday December 28 2016)
Marko mocks Mercedes (Tuesday December 27 2016)
Merry Christmas from Vital F1 (Sunday December 25 2016)
Renault building for 2017 (Friday December 23 2016)
Honda wants to supply second team in 2018 (Thursday December 22 2016)
Gasly building bridges with Marko (Wednesday December 21 2016)
I'll take on anybody says Hamilton (Tuesday December 20 2016)
Massa to return from retirement with Williams? (Monday December 19 2016)
No room at the Red Bull Racing Inn (Friday December 16 2016)
Mercedes now regret Hamilton instruction (Thursday December 15 2016)
Mercedes to take no action on Hamilton (Wednesday December 14 2016)
Aston Martin continue Red Bull partnership (Tuesday December 13 2016)
Ferrari, Mercedes and Williams merry-go-round (Monday December 12 2016)
Mercedes offer €10million for Bottas (Monday December 12 2016)
Formula One to return to France (Monday December 12 2016)
Red Bull Racing to take advantage of Merc turmoil? (Friday December 9 2016)
Straight fight - Wehrlein or Bottas for Merc? (Thursday December 8 2016)
Vettel's future is clear (Wednesday December 7 2016)
Wolff rules out big name driver for Mercedes (Tuesday December 6 2016)
Lauda annoyed by Rosberg retirement (Tuesday December 6 2016)
Button philosophical following race retirement (Monday December 5 2016)
What next for Mercedes? (Friday December 2 2016)
Rosberg retires from F1 (Friday December 2 2016)
New contract for Italian Grand Prix (Friday December 2 2016)
Hamilton blames Mercedes for lost title (Thursday December 1 2016)
Hamilton receives team boss backing (Wednesday November 30 2016)
What did Merc think of Hamilton's 'dirty tactics' (Tuesday November 29 2016)
Hamilton's dirty tactics? (Tuesday November 29 2016)
Blog: Abu Dhabi GP Report (Monday November 28 2016)
AND NEW Formula One World Champion - Nico Rosberg (Sunday November 27 2016)
2016 Abu Dhabi GP - Race (Sunday November 27 2016)
Blog: Abu Dhabi Qualifying (Saturday November 26 2016)
2016 Abu Dhabi GP - Qualifying (Saturday November 26 2016)
2016 Abu Dhabi GP - FP3 (Saturday November 26 2016)
2016 Abu Dhabi GP - FP2 (Friday November 25 2016)
2016 Abu Dhabi GP - FP1 (Friday November 25 2016)
Blog: Abu Dhabi Preview (Friday November 25 2016)
Vettel needs to learn (Thursday November 24 2016)
Hamilton plays down title chances (Wednesday November 23 2016)
Drivers make their tyre choices for Abu Dhabi (Tuesday November 22 2016)
Las Vegas to replace Singapore on the calendar? (Monday November 21 2016)
Dennis betrayed by McLaren (Monday November 21 2016)
Max's memorable Motor race (Friday November 18 2016)
An extraordinary motor racing day (Thursday November 17 2016)
F1 Prediction competition open for final round (Wednesday November 16 2016)
Who will win the Abu Dhabi Grand Prix? (Wednesday November 16 2016)
All working out fine for Rosberg (Tuesday November 15 2016)
Hamilton living in the moment (Monday November 14 2016)
Blog: Brazilian GP Report (Monday November 14 2016)
2016 Brazil GP - Race (Sunday November 13 2016)
|7.||Push The Button||491|