Last-minute deal saves 2012 United States Grand Prix in Austin

Filed under: Motorsports, Earnings/Financials



Everything is bigger in Texas. So it's appropriate that the hubbub surrounding the imminent return of the United States Grand Prix to the Lonestar State should come down to a big last-minute deal.

As you may recall, Formula One was set to come to Austin next year at a new track complex currently being built. However, construction on the Circuit of the Americas came to a halt after F1 chief Bernie Ecclestone expressed his doubts that they'd be able to pull it off. The problem apparently came down to public funding, which was reportedly delayed when the state comptroller told organizers they'd have to wait. With the $25 million bond due to Ecclestone's Formula One Management this week, an undisclosed last-minute deal has reportedly come through to get Bernie his money.

As a result, race organizers have reportedly secured the event's place on next year's calendar as planned, and construction will reportedly resume immediately now that the deal is a go. Somehow, we doubt this will be the last hiccup along the path of bringing Europe's favorite racing series to Texas, but for now it looks like everything is racing ahead.Last-minute deal saves 2012 United States Grand Prix in Austin originally appeared on Autoblog on Wed, 07 Dec 2011 11:31:00 EST. Please see our terms for use of feeds.



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