The organisers of the United States Grand Prix in Austin, at the Circuit of the Americas, have been given a one week deadline extension by Bernie Ecclestone.
The F1 mogul had demanded they pay the sanctioning fee and agree to his terms and conditions as detailed on the contract by Wednesday, but the organisers chose to return an amended contract, which Ecclestone declined.
COTA officials now have until next Wednesday to sign and pay up, or the 2012 race will officially be dropped from the calendar.
“The deadline hasn’t been met so we are still trying to make it happen,” he told the Associated Press in a telephone interview.
“They need to get some money and a pen, they are struggling to get the financial side sorted out,” he added, before confirming the race would be dropped, “if it isn’t all signed before the World Motor Sport Council,” next week.
