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
Pirelli announce driver selections for Austria (Tuesday June 28 2016)
F1 Prediction Comp - Open for round 9 (Monday June 27 2016)
Who will win in Austria? (Monday June 27 2016)
Sainz expected to stay with Red Bull stable (Friday June 24 2016)
F1 musical chairs begins (Thursday June 23 2016)
Title looking good for Rosberg says Hamilton (Wednesday June 22 2016)
Williams hunting down new pit-stop record (Tuesday June 21 2016)
Are F1 radio regulations to restrictive? (Tuesday June 21 2016)
Championship push back on track for Rosberg (Monday June 20 2016)
Blog: European GP Report (Monday June 20 2016)
2016 European Grand Prix - Race (Sunday June 19 2016)
Blog: Baku Qualifying (Saturday June 18 2016)
2016 European Grand Prix - Qualifying (Saturday June 18 2016)
2016 European Grand Prix - FP3 (Saturday June 18 2016)
2016 European Grand Prix - FP2 (Friday June 17 2016)
2016 European Grand Prix - FP1 (Friday June 17 2016)
Hamilton expects to be hit by Joker card (Thursday June 16 2016)
Pirelli reveal Baku tyre choices (Wednesday June 15 2016)
Williams looking forward to Azerbaijan (Wednesday June 15 2016)
Rosberg was p***** off (Tuesday June 14 2016)
Ferrari split on tyre strategy call (Tuesday June 14 2016)
Hamilton is keeping his head down and pushing (Tuesday June 14 2016)
F1 Prediction Comp open for round 8 (Monday June 13 2016)
Who will win in Baku? (Monday June 13 2016)
Blog: Canadian GP Report (Monday June 13 2016)
2016 - Canada GP - Race (Sunday June 12 2016)
Blog: Montreal Qualifying (Sunday June 12 2016)
2016 Canada GP - Qualifying (Sunday June 12 2016)
2016 Canada GP - FP3 (Saturday June 11 2016)
2016 Canada GP - FP2 (Saturday June 11 2016)
2016 Canada GP - FP1 (Saturday June 11 2016)
McLaren to benefit from new Honda turbo (Friday June 10 2016)
Ericsson & Nasr at breaking point? (Thursday June 9 2016)
Blog: Montreal Preview (Wednesday June 8 2016)
Ferrari spend three engine tokens on new turbo (Wednesday June 8 2016)
Red Bull & Renault agree new deal! (Wednesday June 8 2016)
A positive step for Red Bull Racing (Tuesday June 7 2016)
Ferrari considering engine upgrade for Canada (Tuesday June 7 2016)
Intriguing tyre selections for Canada (Monday June 6 2016)
F1 Prediction Comp open for round 7 (Monday June 6 2016)
Who will win in Canada? (Monday June 6 2016)
More criticism for Kvyat (Thursday June 2 2016)
Rosberg had no hesitation to pull over says Wolff (Wednesday June 1 2016)
Grid penalties in Canada for Kvyat & Ericsson (Tuesday May 31 2016)
Ricciardo screwed for second week running (Monday May 30 2016)
Cream always rises to the top - Hamilton wins (Monday May 30 2016)
Blog: Monaco GP Report (Sunday May 29 2016)
2016 Monaco GP - Race (Sunday May 29 2016)
Blog: Monaco Qualifying (Saturday May 28 2016)
2016 Monaco GP - Qualifying (Saturday May 28 2016)
2016 Monaco GP - FP3 (Saturday May 28 2016)
2016 Monaco GP - FP2 (Thursday May 26 2016)
2016 Monaco GP - FP1 (Thursday May 26 2016)
Blog: Monaco Preview (Thursday May 26 2016)
Pirelli announce tyre selections for Monaco (Wednesday May 25 2016)
F1 teams cover good mileage in test (Tuesday May 24 2016)
F1 Prediction Comp open for round 6 (Monday May 23 2016)
Who will win in Monaco? (Monday May 23 2016)
Arrivabene receives vote of confidence (Friday May 20 2016)
Magnussen penalised for collision with team-mate (Thursday May 19 2016)
Merc boss declares neither driver at fault (Wednesday May 18 2016)
Red Bull threw Ricciardo's win away (Tuesday May 17 2016)
Lauda slams Hamilton (Tuesday May 17 2016)
Seven score race wins in Spain (Tuesday May 17 2016)
Stars align to gift Verstappen maiden F1 win (Monday May 16 2016)
Mercedes duo crash (Monday May 16 2016)
Blog: Spanish GP Report (Sunday May 15 2016)
2016 Spain GP - Race (Sunday May 15 2016)
Blog: Barcelona Qualifying (Saturday May 14 2016)
2016 Spain GP - Qualifying (Saturday May 14 2016)
2016 Spain GP - FP3 (Saturday May 14 2016)
2016 Spanish GP - FP2 (Friday May 13 2016)
2016 Spanish GP - FP1 (Friday May 13 2016)
Haas and Sauber get new Ferrari engines (Thursday May 12 2016)
Blog: Barcelona Preview (Wednesday May 11 2016)
Renault have big plans for Spain (Wednesday May 11 2016)
Pirelli announce driver tyre choices for Spain (Tuesday May 10 2016)
F1 Prediction Competition open for round 5 (Monday May 9 2016)
Who will reign in Spain? (Monday May 9 2016)
McLaren are making solid progress (Friday May 6 2016)
Sainz believes penalty was harsh (Friday May 6 2016)
2016 has lacked ultimate thrill for Rosberg (Thursday May 5 2016)
Red Bull Racing dump Kvyat and promote Verstappen (Thursday May 5 2016)
Bottas content with Russia finish (Thursday May 5 2016)
Hamilton braced for further penalties (Wednesday May 4 2016)
What was Sebastian to do? Fly? (Wednesday May 4 2016)
The messiest start of Kvyat's career (Tuesday May 3 2016)
Ecclestone fires warning shot to teams (Tuesday May 3 2016)
Hamilton in 'no doubt' he could have won in Russia (Monday May 2 2016)
Rosberg record setting in Russia (Monday May 2 2016)
Russian roulette (Monday May 2 2016)
Blog: Russian GP Report (Monday May 2 2016)
2016 Russia GP - Race (Sunday May 1 2016)
2016 Russia GP - Qualifying (Saturday April 30 2016)
2016 Russia GP - FP3 (Saturday April 30 2016)
2016 Russia GP - FP2 (Saturday April 30 2016)
2016 Russia GP - FP1 (Friday April 29 2016)
Hamilton has one eye on retirement (Friday April 29 2016)
Horner praise for Renault (Thursday April 28 2016)
Booth returns to Formula One (Thursday April 28 2016)
|7.||Push The Button||477|