Construction of US Grand Prix track halted
Tuesday, November 15, 2011
AUSTIN, Texas (AP) -- Construction of a racetrack in Austin, Texas, to host the U.S. Grand Prix starting next year has been halted in a dispute between Formula 1, race promoters and developers.
That move, and a separate announcement by state Comptroller Susan Combs that $25 million in state money for the race will not be paid in advance, cast doubt about the future of the race.
Circuit of the Americas officials, including billionaire Red McCombs, say construction won't resume until they have a contract from Formula 1 to stage the race in Austin next year.
Formula One hasn't raced the U.S. Grand Prix since 2007 in Indianapolis.