May 24 (GMM) The key backer of the scheduled 2012 US Grand Prix insists he remains committed to the Circuit of the Americas project.

Artist's rendering of the Circuit of the Americas
Artist's rendering of the Circuit of the Americas

Photo by: Circuit of the Americas

Construction in Austin, Texas, has continued amid raging local media speculation, as lawsuits are pending and questions are constantly asked about the viability of the project commenced by the now offside promoter Tavo Hellmund.

With 84-year-old billionaire Red McCombs now reportedly in the driving seat, he insisted it is "without question" he will continue to push the project forwards.

"Never has been any question," McCombs is quoted by mysanantonio.com, after the authoritative Austin American Statesman newspaper had suggested he was on the verge of pulling out.

"I'm there for the full ticket," McCombs insisted, although he admitted the row with Hellmund is proving a speed-bump.

"I will say we do expect to have some resolution to those issues in a timely fashion, but in dealing with the courts, I don't know what a timely fashion is."

He told reporters the circuit is now 60 per cent complete ahead of the inaugural November 18 race date.