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
Hass might join F1 grid in 2016 (Wednesday April 16 2014)
Red Bull lose appeal (Wednesday April 16 2014)
Brawn to return to Ferrari? (Tuesday April 15 2014)
Domenicali quits (Monday April 14 2014)
NASCAR owner confirms Formula 1 entry (Monday April 14 2014)
Red Bull appeal begins (Monday April 14 2014)
Formula One Prediction Competition - Round 4 (Sunday April 13 2014)
Who will win the Chinese GP? (Sunday April 13 2014)
Mercedes hit out at Ferrari (Saturday April 12 2014)
Perez nearly quit F1 (Friday April 11 2014)
Mercedes stay on top in Bahrain (Thursday April 10 2014)
Red Bull & McLaren in legal row (Thursday April 10 2014)
Blog: The Battle of Mercedes (Thursday April 10 2014)
Mercedes on top in first test (Wednesday April 9 2014)
Formula One should celebrate new era (Wednesday April 9 2014)
F1 cost cap plan abandoned (Tuesday April 8 2014)
Two new teams to join Formula One? (Tuesday April 8 2014)
Maldonado punished (Monday April 7 2014)
Formula One puts on a showcase (Monday April 7 2014)
Blog: Bahrain GP Report (Monday April 7 2014)
2014 - Bahrain - Race (Sunday April 6 2014)
Blog: Sakhir Qualifying (Saturday April 5 2014)
2014 - Bahrain - Qualifying (Saturday April 5 2014)
2014 - Bahrain - FP3 (Saturday April 5 2014)
2014 - Bahrain - FP2 (Friday April 4 2014)
2014 - Bahrain - FP1 (Friday April 4 2014)
Cautious optimism for Schumacher (Friday April 4 2014)
Williams resolve team orders row (Friday April 4 2014)
Hamilton & Rosberg on par (Thursday April 3 2014)
Sauber have identified their issues (Thursday April 3 2014)
Sauber & Caterham make driver changes (Wednesday April 2 2014)
Alonso finds the positives (Tuesday April 1 2014)
Fuel-gate rumbles on (Tuesday April 1 2014)
Red Bull are closing the gap (Tuesday April 1 2014)
Massa defiant after ignoring team call (Tuesday April 1 2014)
Formula One Prediction Competition - Round 3 (Monday March 31 2014)
Who will win the Bahrain GP? (Monday March 31 2014)
Hamilton dominant in Malaysia [w/VIDEO] (Monday March 31 2014)
Blog: Malaysian GP Report (Sunday March 30 2014)
2014 - Malaysia - Race (Sunday March 30 2014)
Blog: Sepang Qualifying (Saturday March 29 2014)
2014 - Malaysia - Qualifying (Saturday March 29 2014)
2014 - Malaysia - FP3 (Saturday March 29 2014)
2014 - Malaysia - FP2 (Friday March 28 2014)
2014 - Malaysia - FP1 (Friday March 28 2014)
Lotus trying to put two and two together (Thursday March 27 2014)
Sutil unhappy with weight issues (Thursday March 27 2014)
Video Feature: Malaysia Preview (Wednesday March 26 2014)
McLaren pushing hard (Wednesday March 26 2014)
Red Bull owner slams F1 (Tuesday March 25 2014)
Lotus hoping for improvement (Monday March 24 2014)
Date set for Red Bull's appeal (Monday March 24 2014)
Formula One Prediction Competition - Round 2 (Sunday March 23 2014)
Who will win in Malaysia? (Saturday March 22 2014)
Red Bull looking to improve (Friday March 21 2014)
Kimi points finger at brake-by-wire system (Thursday March 20 2014)
F1's new sound (Thursday March 20 2014)
Williams delighted with Bottas drive (Wednesday March 19 2014)
Lotus problems down to MGU-K component (Wednesday March 19 2014)
Ferrari unhappy with Australia performance (Tuesday March 18 2014)
Perfect debut for Magnussen (Tuesday March 18 2014)
Disappointing weekend for Red Bull (Monday March 17 2014)
Bittersweet weekend for Mercedes (Monday March 17 2014)
F1 Blog: Australian GP: New dawn (Sunday March 16 2014)
2014 - Australia - Race (Sunday March 16 2014)
2014 - Australia - Qualifying (Saturday March 15 2014)
F1 Blog: Rain clouds have a silver lining (Saturday March 15 2014)
2014 - Australia - FP3 (Saturday March 15 2014)
Rd 1 - F1 Fans Forum Prediction Competition (Friday March 14 2014)
2014 - Australia - FP2 (Friday March 14 2014)
2014 - Australia - FP1 (Friday March 14 2014)
Stewards to be lenient in Australia (Thursday March 13 2014)
Chilton targets maiden point (Thursday March 13 2014)
Video: A closer look at Red Bull's RB10 (Thursday March 13 2014)
Video: Ferrari's internal battle (Thursday March 13 2014)
Small and encouraging signs for Schumacher (Wednesday March 12 2014)
F1 Blog: The Braces Are Off (Wednesday March 12 2014)
Lotus depending on Renault improvements (Wednesday March 12 2014)
Mercedes & Hamilton favourites say Horner (Wednesday March 12 2014)
Who will win the Australian Grand Prix? (Tuesday March 11 2014)
Williams positive ahead of new season (Tuesday March 11 2014)
Ecclestone targets Azerbaijan (Tuesday March 11 2014)
No change for Schumacher (Tuesday March 11 2014)
Qualifying tweaks confirmed (Monday March 10 2014)
Lotus will recover (Saturday March 8 2014)
F1 Prediction Competition - Round One (Saturday March 8 2014)
Ferrari behind Mercedes & Williams (Friday March 7 2014)
Pirelli announce tyre compounds for opening races (Friday March 7 2014)
Vettel concerned with lack of pace (Thursday March 6 2014)
More to come for Mercedes (Wednesday March 5 2014)
Where do McLaren stand? (Tuesday March 4 2014)
Red Bull will overcome problems, but when? (Monday March 3 2014)
FOTA folds with a whimper (Saturday March 1 2014)
Williams looking solid (Friday February 28 2014)
London Grand Prix takes step closer to reality? (Thursday February 27 2014)
2014 Formula One Prediction Competition (Thursday February 27 2014)
Smedley's Williams move confirmed (Wednesday February 26 2014)
New Pirelli tyres more consistent & durable (Tuesday February 25 2014)
Wolff to drive two practice sessions (Tuesday February 25 2014)
Mercedes dominate in Bahrain testing (Monday February 24 2014)
|7.||Push The Button||426|