Formula 1 Re-Signs With Austin for 2012

// FORMULA ONE CONTRACT SIGNED

We have recieved confirmation from our reliable sources that Austin is a go for 2012, but there will be some changes with the various partners involved.  These details will likely make their way out in the next 12 hours, so at this point we are still unclear what issues were resolved with the revised contract.

Needless to say, it's been a roller coaster ride the last few weeks with the statements by Formula 1 head Bernie Ecclestone and Circuit of The Americas, regarding the fate of Austin's future race.  Tavo Hellmund's press conference also made it clear that there were some serious issues that needed to be worked out within the COTA organization, but the parts of the puzzle are still yet to be solved.

//UPDATE 01

Pit Pass is also reporting from their sources the same confirmation.

Stephen Cole Smith at Autoweek also reporting that a deal may be reached.

//UPDATE 02

 Peter Habicht of F1US.co pointed out that the Circuit of The Americas website no longer lists Tavo Hellmund as a partner; he was previously listed as "Founding Partner."  Very interesting...

//UPDATE 03

Andrew Benson (BBC), Alan Baldwin (Reuters) and Adam Cooper are stating that an unchanged 2012 F1 race calendar has been released but not yet confirmed by the World Motor Sport Council. We'll continue to stay on top of this.

//UPDATE 04

Offically confirmed by Circuit of The Americas and Formula 1: Details here

Keep Calm And Race On

There's some news breaking about "the future of grand prix racing in the United States" coming from Autoweek, saying that a special announcement will air on Speed TV this Tuesday.  Much of the speculation about this announcement is rumored to be involving a grand prix race in New Jersey, and expected to be for the 2013 race calendar.

While little else is known about this news, we expect it to attract much attention leading up to Tuesday's press conference, but don't expect any wild speculation on our part.  We don't foresee a project on the same scale that Circuit of the Americas is undertaking.

While I can say that a race across the Hudson River from New York city would be exciting, we'll have to wait and tune in to Speed TV at 2pm Eastern time this coming Tuesday, Oct 25th.

This announcement does not mean or even imply a cancellation of the return of the F1 USGP in Austin; all of our sources confirm that Circuit of the Americas is on track for a November 18, 2012 race.  So lets see what happens on Tuesday and until then, Keep Calm and Race On.