F1: Backer Has No Doubts About 2012 Austin GP

Formula 1

F1: Backer Has No Doubts About 2012 Austin GP

Texas billionaire Red McCombs insists it is "without question" that the Austin GP project will continue to push forward...

SPEED Staff / GMM | Posted May 24, 2012 GMM Newswire

Texan Red McCombs is one of the primary financial backers of the Austin GP. (Photo: Getty Images)

The key backer of the scheduled 2012 US Grand Prix insists he remains committed to the Circuit of the Americas project.

Construction in Austin, Texas, has continued amid raging local media speculation, as lawsuits are pending and questions are constantly asked about the viability of the project commenced by the now offside promoter Tavo Hellmund.

With 84-year-old billionaire Red McCombs now reportedly in the driving seat, he insisted it is "without question" he will continue to push the project forward.

"Never has been any question," McCombs is quoted by mysanantonio.com, after the authoritative Austin American Statesman newspaper had suggested he was on the verge of pulling out.

"I'm there for the full ticket," McCombs insisted, although he admitted the row with Hellmund is proving a speed-bump.

"I will say we do expect to have some resolution to those issues in a timely fashion, but in dealing with the courts, I don't know what a timely fashion is."

He told reporters the circuit is now 60 percent complete ahead of the inaugural Nov. 18 race date.

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