Austin F1 Could Lose State Incentive Funding

None NASCAR-related news, per Austin Business Journal... Construction at the Circuit of the Americas racetrack has been immediately suspended pending a completed contract assuring the Formula One United States Grand Prix will be held at the purpose-built facility in 2012.

The race contract between Formula One and COTA has not been conveyed to racetrack organizers per a previously agreed upon timetable, according to a COTA press release.

“We have spent tremendous resources preparing for the Formula One and MotoGP Championship races, but the failure to deliver race contracts gives us great concern,” said Bobby Epstein, founding partner of COTA. “Given the purpose-built Tilke design, creating a unique fan experience and iconic challenge for drivers, we hope that Texas will not be left behind. More than 100,000 fans have expressed an interest in purchasing tickets for Formula One alone.”

Read More: BizJournals.com

Related: F1: State Funding For US GP At Austin Under Threat