Construction of the Circuit of the Americas in Texas has been halted amid a dispute between the circuit and race promoters Full Throttle Productions.
Based near the state capital of Austin, the Circuit of the Americas is scheduled to host its first Formula One Grand Prix next season, with MotoGP and V8 Supercars events to follow from 2013.
With each category having signed deals with Full Throttle Productions, the Circuit of the Americas has issued a statement claiming that construction has been stopped because the “race contract between Formula One and Circuit of The Americas has not been conveyed to Circuit of The Americas per a previously agreed upon timetable.”
A subsequent response from Full Throttle Promotions read simply: “After years of effort in getting F1 to Austin, Full Throttle Productions and city, county and state officials have done all we could.
“It is the responsibility of Circuit of the Americas to bring it across the finish line. For the sake of everyone, we are hopeful that they can reach an agreement with Formula 1.”
Further doubt has been thrown on the future of the circuit by Texas state comptroller Susan Comb, who has confirmed that the $25 million worth of state funding for the circuit will not be paid until after the first Formula One race has been run.
“We have not paid out any money for the Formula One event,” said Combs.
“The only dollars that can be spent on the United States Grand Prix are tax revenues attributable to the successful running of a race. The state of Texas will not be paying any funds in advance of the event.”
Combs described both the dispute between the Circuit of the Americas and Full Throttle Productions and the recent announcement of a Formula One race for New Jersey as “concerns” that “we will continue to monitor”.
