The United States Grand Prix at the Circuit of the Americas in Austin will remain on the 2012 calendar, it has been confirmed by the FIA.
The race had been in danger of being dropped after their contract to host a Formula 1 grand prix fell through with promoter Tavo Hellmund.
Hellmund, who originally instigated the deal to bring F1 to Texas, is no longer involved in the project and has been removed from COTA’s website altogether.
It’s believed, according to reliable sources close to the project, that Red McCombs, a founding partner in the project, has made the required sanctioning fee payment of $25 million to Bernie Ecclestone’s FOWCC (Formula One World Championship Company).
As well as this, he has also put in place guarantees that the fee will be paid a year in advance of each race for at least five of the ten contracted races.
The race is scheduled to debut on the 2012 calendar, but has an option to be delayed until 2013 if building work isn’t completed on time.
Confirmation is expected from both the World Motor Sport Council (WMSC), which is meeting today in India to ratify the calendar, and the race organisers, COTA.
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