Construction On Circuit Of The Americas Halted Pending Delivery Of F1 Race Contract

AUSTIN, TX – November 15, 2011 – (Motor Sports Newswire) – Organizers of Circuit of The Americas, a premier motor sports racing and entertainment venue being developed in Austin, Texas, are suspending further construction of the project until a contract assuring the Formula 1 United States Grand Prix will be held at Circuit of The Americas in 2012 is complete. The race contract between Formula One and Circuit of The Americas has not been conveyed to Circuit of The Americas per a previously agreed upon timetable.

While construction at Circuit of The Americas has progressed as scheduled with over 300 workers at the construction site daily, all work will suspend immediately. The delivery of the Formula One Grand Prix race contract will allow construction operations to resume.

“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 Circuit of The Americas. “We believe the United States is vital for the future of Formula One and its teams and sponsors. 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.”

“It is in the best interest of all parties to reach a timely resolution,” said Red McCombs, chairman of McCombs Enterprises and founding partner of Circuit of The Americas. “Local businesses, fans and the State of Texas are counting on us.”

About Circuit of The Americas
Circuit of The Americas will be a world-class destination for performance, education and business. It will be the first purpose-built Grand Prix facility in the United States designed for any and all classes of racing, from motor power to human power.

The Circuit of The Americas master plan features a variety of permanent structures designed for business, education, entertainment and race use. Its signature element will be a 3.4-mile (5.5-km) circuit track. Other support buildings will include a medical facility, 14 executive meeting suites, a conference center, and a banquet hall, as well as an expansive outdoor live music space.

Future proposed amenities include a driving/riding experience, a motorsports driving club, kart track, grand plaza event center and tower, and a trackside recreational vehicle park.

For more information and downloadable video, audio and photos, visit: www.CircuitofTheAmericas.com.

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