Circuit of the Americas Ready to Pay Sanctioning Fee and Offering More Proposal Satisfies 2012 Request, Accelerates Payments for Subsequent Years
Circuit of The Americas has responded to Formula One Management's contract requirements by agreeing to an immediate cash payment of the sanctioning fee for the 2012 United States Grand Prix (USGP). In addition, Circuit of The Americas has offered to establish an advance payment schedule for USGP races beyond 2012.
The offer comes after several weeks of talks, and once accepted, will secure the USGP on the Formula 1 race calendar.
"We have been ready to send Mr. Ecclestone a sanctioning fee check for some time now," said Bobby Epstein, founding partner of Circuit of The Americas. "He hasn't received it yet because the new contract presented to us two weeks ago contained unrealistic and unfeasible demands.
We have signed and returned a contract similar to what we anticipated receiving. This race should be a reality, but if we are going to make the 2012 race date, we must receive a countersignature in the coming few days.
We believe the teams, fans, sponsors and local business share our enthusiasm and hope that their voices will be heard."
We have been ready to send Mr. Ecclestone a sanctioning fee check for some time now
About Circuit of The Americas
Circuit of The Americas will be a world-class destination for performance, education and business. It will be the first purpose-built Grand Prix facility in the United States designed for any and all classes of racing, from motor power to human power.
The Circuit of The Americas master plan features a variety of permanent structures designed for business, education, entertainment and race use.
Its signature element will be a 3.4-mile (5.5-km) circuit track. Other support buildings will include a medical facility, 14 executive meeting suites, a conference center, and a banquet hall, as well as an expansive outdoor live music space.
Future proposed amenities include a driving/riding experience, a motorsports driving club, kart track, grand plaza event center and tower, and a trackside recreational vehicle park.