Bernie Ecclestone insists a US Grand Prix in Texas next year remains unlikely, despite race organisers announcing they are now "ready" to pay the sport its overdue sanctioning fee.

With the Circuit of the Americas project reportedly dying, the organisers issued a statement on Thursday announcing they are willing to make "an immediate cash payment".

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

Photo by: Circuit of the Americas

"He (Ecclestone) hasn't received it yet because the new contract presented to us two weeks ago contained unrealistic and unfeasible demands," said founding partner Bobby Epstein.

"We have signed and returned a contract similar to what we anticipated receiving."

He admitted the 2012 race will only take place as scheduled if F1's 81-year-old chief executive returns the revised contract "in the coming few days".

That appears highly unlikely.

Yeah, well they shouldn't sign it. My advice to them is don't sign it

Bernie Ecclestone

"I doubt it," Ecclestone, holding a copy of the Circuit of the Americas statement, told reporters at Interlagos.

Asked about Epstein's complaint that the proposed deal is "unrealistic and unfeasible", he said: "Yeah, well they shouldn't sign it. My advice to them is don't sign it. And they probably won't get the opportunity."