F1: Ecclestone Has Our Check, Says COTA’s McCombs

Formula 1

F1: Ecclestone Has Our Check, Says COTA’s McCombs

COTA investor Red McCombs says Austin race officials have paid Bernie Ecclestone the sanctioning fee to host its GP in 2012...

Adam Cooper | http://www.speedtv.com | Posted December 07, 2011 Balen (BEL)

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

Circuit of The Americas has now confirmed that it has concluded a deal with Bernie Ecclestone and has paid him for the 2012 US GP.

The race has remained on the calendar after Wednesday's meeting of the World Motor Sport Council in Delhi.

In a statement, COTA investor Red McCombs said: “Mr. Ecclestone received his check today for the USGP. 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.”

Fellow Austin race organizer Bobby Epstein added: “Our investors have believed all along that this project has tremendous benefit for our region, and provides a strong economic engine for the future. 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 (Hellmund) vision of bringing F1 to the people of Texas will become a reality.”

The statement added: “Engineering and construction teams working on the track will resume immediately, ensuring completion for the 2012 race date.”

Adam Cooper notched up his 26th season as a racing journalist in 2010. He has written about F1 for SPEED.com since 2005. Follow him on Twitter.