New Jersey inks long-term F1 deal
13 June 2013 – The promoter of the Grand Prix of America has confirmed a new long-term deal is now in place to hold a round of the FIA Formula 1 World Championship. The agreement will see F1 go to New Jersey until at least 2029, starting from next year.
The inaugural Grand Prix of America at Port Imperial was due to take place this season, but was postponed in October 2012 with the initial contract then cancelled by F1 boss, Bernie Ecclestone.
Ecclestone, however, has continued to back the plan and according to some reports has even helped the organisers’ settle a number of debts.
"The Grand Prix of America at Port Imperial has been a dream of many in the sport for over a decade," Leo Hindery Jr told Press Association Sport. "We had hoped to be ready to race in June 2013, but by late last fall 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."