Bernie Ecclestone reveals Austin may face axing as race contract gets cancelled – Formula 1 news
Formula 1 boss Bernie Ecclestone is on the verge of axing US Grand Prix 2012 after he revealed that in fact there is no longer a valid contract that would allow a race.
It was only a fortnight ago that construction was brought to a halt, as concerns were raised by the Texas state comptroller Susan Combs who said there will be no progress in the construction unless it is assured that a Grand Prix will be held here in 2012.
Although Ecclestone earlier denied any such rumours of the Austin circuit under any danger of scrapping it, but he has disclosed today that earlier reports held some weight as it has been revealed that there is no legal contract between Formula 1 and the
organisers in Austin to hold a Grand Prix in 2012.
The root of the dispute is between the promoters Full Throttle Productions and the Circuit of the Americas (COTA). Ecclestone explained the nature of the issue that the contract issued to Full Throttle Productions to hold a race has now been cancelled, and
Formula 1 Management (FOM) will now have to wait and see if COTA can come up with the money for the race, if they want it to go ahead.
“We've done everything we bloody well can do to make this race happen,” Ecclestone told the Press Association. He was then asked if the venue could be dropped ahead of a meeting of the World Motor Sport Council on December 7, where the 2012 calendar will
be ratified, he added, “Yes, it will be, for sure, 100%.”
“We had an agreement with Full Throttle Productions,” Ecclestone explained. “Everything was signed and sealed, but we kept putting things off like the dates, various letters of credit and things that should have been sent, but nothing ever happened.”
Without a contractual agreement, the State of Texas is not willing to finance the circuit for development, as Combs clearly mentioned that the funding will only be provided if the race is run successfully at the venue. Without the budgeting, the circuit
faces limbo as finances are limited, and without the finances Ecclestone is not willing to hand out a contract.
The situation has gotten from bad to worse and with no clear and amicable resolution in sight, it is likely that the circuit will get axed, what remains to be seen though is which venue will be named as a backup for this race.
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