Delegates from Austin Assure Ecclestone on US F1 Race

Jan. 21, 2012 3:41 AM ET by Jay Traugott / 8 Comments

Work resumed on the $350 million race track for the F1 race in November.

Delegates of the Circuit of the Americas from Austin, Texas, are visiting London to meet with Formula 1 Boss Bernie Ecclestone in order to assure him that the track will be completed in time for the Formula 1 race this coming November. However, Ecclestone should be quite pleased when he will reportedly be informed that the race track and facilities will be fully completed by August. "The race is on. Construction is happening six days a week.

The paddock buildings are being topped off, work on the main grandstand has started and we are looking at mid-August for completion," said Geoff Moore, chief marketing and sales officer for the circuit, to Autosport.com. The total cost of the track construction is estimated at $350 million; attendance at race time is expected to be 120,000 spectators. Last year construction work at the site was halted after the event promoters failed to pay Ecclestone the hosting fee, in the region of $30 million. Ecclestone then threatened to cancel the race.

Following hectic negotiations between the race promoters and the circuit owners, the former gave up their position and the hosting fee was paid, according to sources.

Delegates from Austin Assure Ecclestone on US F1 Race

Join The Discussion

Gallery