Circuit of the Americas is halting of the Formula One circuit in Austin, Texas, effective immediately.
The organizers came to this decision after they didn’t receive a contract to assure that the Formula One United States Grand Prix will be held at their venue.
“We have spent tremendous resources preparing for the Formula One and MotoGP Championship races, but the failure to deliver race contracts gives us great concern,” said Bobby Epstein, founding partner of Circuit of The Americas in a press release. He went on to say that more than 100,000 fans expressed interest in the event.
The track would be the first purpose-built Grand Prix facility in the United States, but it seems that construction which otherwise had proceeded as expected, will only continue with a contract.
The announcement came shortly after Texas state comptroller Susan Combs said there wouldn’t be money paid out until after the race takes place.
That stacked on top of Formula One boss Bernie Ecclestone’s $25 million sanctioning fee means the whole thing faces serious challenges.