Organisers of the US grand prix have one week to rescue their event before it is scratched from next year’s calendar.<\/p>\n
The deadline has been imposed by F1 chief executive Bernie Ecclestone, according to the Associated Press.<\/p>\n
“If they want to come back to us, if it (a contract) is not signed before the end of next week, I suppose it won’t be on the calendar next year,” he said.<\/p>\n
It is reported that Ecclestone wants a letter of credit or a guarantor for the organisers’ $25 million race sanctioning fee.<\/p>\n
“We have a World Motor Sport Council meeting on the seventh of December and we need to prepare everything before that,” said the 81-year-old Briton.<\/p>\n
In reality, the deadline will almost certainly be missed, with the Circuit of the Americas announcing that it is setting its sights on hosting an inaugural event in 2013 instead.<\/p>\n
“We know the US market is important to the teams and their sponsors and 2013 certainly allows time for the Circuit of the Americas to be ready,” the organisation said in a statement.<\/p>\n
The project’s collapse occurred apparently because of disagreements between the original promoter Tavo Hellmund, and the circuit.<\/p>\n
“I think somebody needs to jump on a plane and go see (Ecclestone) and make him happy,” Hellmund told reporters on Thursday.<\/p>\n
Without saying it specifically, it is clear he blames the project’s investors.<\/p>\n
“It’s really not a Tavo problem.\u00a0 It’s really an investor problem,” Texas comptroller Susan Combs told the local Austin American Statesman newspaper.<\/p>\n
“The state has no role in saving something like this,” she added.<\/p>\n
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