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Circuit of Americas construction to resume immediately UPDATE
Bernie Ecclestone, master of deals, wins again
(GMM)  Construction of the 2012 US GP venue in Texas capital Austin is resuming.

Work at the Circuit of the Americas had been halted amid the dispute between event founder Tavo Hellmund, the track's new management and financiers, and F1 chief executive Bernie Ecclestone.

That dispute was settled ahead of Wednesday's deadline of the World Motor Sport Council in India, where the race's inaugural November date was ratified by the FIA.

"We have an agreement," confirmed circuit spokesman Jeff Hahn, according to local KVUE news.

And Ecclestone told the Austin American Statesman newspaper: "Yes, there will be a race.  We hope it will be for 10 years."

Founding partner Bobby Epstein suggested that while Wednesday's news is good for the event, it was also a victory for Ecclestone.

"Mr. Ecclestone is a masterful negotiator.  He fights hard for his company's best interests," he said.

As the news broke, local reports revealed that heavy machinery was rolling back onto the circuit construction site.

But after the most recent delay, time is now tighter than ever to complete the project ahead of the inaugural race date next November.

"Our construction group said they can get it done," insisted Epstein.

12/07/11 Circuit of The Americas announced today that they have reached an agreement with Formula One Management that ensures the Formula 1 United States Grand Prix remains on the FIA Formula 1 World Championship race calendar.

Red McCombs, chairman of McCombs Enterprises and founding partner of Circuit of The Americas stated, “Mr. Ecclestone received his check today. We want to thank the fans supporting us, the local officials and businesses that have encouraged us, the State of Texas, Circuit of The Americas’ staff and Bernie himself. I want to thank and commend Bobby Epstein for getting us across the finish line. Bobby’s perseverance and leadership kept the project on track despite unfair and unfounded criticism.”

“Our investors have believed all along that this project has tremendous benefit for our region, and provides a strong economic engine for the future,” stated Epstein, founding partner of Circuit of The Americas. We remain committed to reaching our goal of being valuable community partners as we establish a platform for sports and entertainment. We’re glad that Tavo’s vision of bringing F1 to the people of Texas will become a reality.”

Engineering and construction teams working on the track will resume immediately, ensuring completion for the 2012 race date.

“We have a substantial number of fans who have expressed interest in buying tickets and hospitality, so today is a win for all of them as much as it is for Circuit of The Americas,” said Steve Sexton, president of Circuit of The Americas. “We encourage everyone to visit our website and register for information. Registered fans will receive the first communication regarding ticket sales plans. In a matter of weeks we will have more exciting news as we unveil our full calendar of world class events.”

Fans interested in receiving information about tickets for next year's United States Grand Prix can register their contact information at www.CircuitofTheAmericas.com. Ticket sales information will be communicated to those registered prior to general public notification.

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