The organisers of the United States Grand Prix in Austin, at the Circuit of Americas, are hoping the race will still go ahead in 2012 after agreeing to pay Bernie Ecclestone the £16 million ($25m) hosting fee.
The fee was meant to have been paid back in June by the local government, but following a backlash from a small minority as well as contractual issues, the payment was put on hold until after the event.
Ecclestone says he is left with no option but to cancel the event if payment isn’t made before the coming Monday deadline.
However in a statement from COTA on Thursday, Bobby Epstein, a founding partner, made it clear that payment is ready to be made if their contractual demands can be met.
“We have been ready to send Mr. Ecclestone a sanctioning fee check for some time now,” said Epstein.
“He hasn’t received it yet because the new contract presented to us two weeks ago contained unrealistic and unfeasible demands. We have signed and returned a contract similar to what we anticipated receiving.
“This race should be a reality, but if we are going to make the 2012 race date, we must receive a counter signature in the coming few days. We believe the teams, fans, sponsors and local business share our enthusiasm and hope that their voices will be heard.”
It’s yet to be seen how Ecclestone will respond to an amended contract though.
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