F1 fans looking forward to watching some of the world’s best drivers whip around a 3.2-mile temporary road coarse in New Jersey will have to put their plans on hold.
When the F1 calendar for the 2014 season was released in last September, Grand Prix of America – the race that would take place in the New York – New Jersey area – was listed on the calendar. At the time, it seemed to answer questions about whether or not the race organizers had come up with the $100 million in management fees associated with the race. Now, that seems not to be the case. GP America executive chairman Leo Hindery are now working to restructure financial arrangements for race in 2015. Should the event take place, it would be the first of its kind of the area.
“Our entire management team and our supporters in New Jersey, New York and throughout the Formula One community obviously want to see the inaugural Grand Prix of America at Port Imperial take place as soon as possible,” Hindery said. “Bringing a world-class race to the world’s largest media market is a huge undertaking that has required balancing construction of our road course, without tapping any public money, with the Sport’s own timing demands.”
Despite the setback, Hindery seems optimistic that the race will happen.
“There is great demand for a race in New Jersey and I have no doubt we’ll be racing at Port Imperial in 2015,” he said. “New races can take many years to get started, but there is significant momentum and we are close to realizing a New York City F1 race.”