Nearly two weeks ago, Bernie Ecclestone appeared positive that the inaugural Formula One race in New Jersey would become a reality 2013. Yet at the time, the head of Formula One Management (FOM) said: "They are way behind with a lot of things. I don't think they will get it ready in time."

The early news in Europe indicates that the grand prix has been removed from the 2013 calendar.

The race, which was slated to be the second grand prix in the United States alongside Austin, will be postponed in favor of a date in 2014 according to the Fox Sports SPEED channel.

An official announcement will be made later today. Ecclestone stated on October 6th that the contract was invalid due to the slow completion of the 3.2-mile road course. According to reports, the completion of the permits is one hold up as well as the Corps of Engineers.

The circuit will run alongside the Hudson River with the view of the Manhattan skyline.