• Grand Prix of America

New Jersey claims long-term contract

ESPN Staff
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Construction work has been continuing at Port Imperial © Sutton Images

The promoter of the Grand Prix of America says it has a 15-year long contract to stage Formula One from next season.

The race was originally set to debut on the calendar this year but it was postponed after Bernie Ecclestone said in September 2012 that the organisers "have not complied with the terms and conditions of the contract which is now gone anyway. They don't have a contract."

However, Ecclestone has been keen to make the race happen and Grand Prix of America executive chairman and race promoter Leo Hindery Jr. now says a new long-term contract is in place to safeguard its future.

"The Grand Prix of America at Port Imperial has been a dream of many in the sport for over a decade," Hindery is quoted by Sporting Life. "We had hoped to be ready to race in June 2013, but by late last fall (autumn) it was clear we would not have in place in time the long-term capital structure needed to satisfy Formula One of our readiness.

"Thanks to the patient, invaluable support of Bernie Ecclestone and FOM (Formula One Management) we now have the long-term sanctioning agreement needed to go racing for years to come, starting in June 2014."