The US Grand Prix in Austin has less than three weeks to sort out financial troubles or else it will be absolutely cancelled. Speed's reporting that the race contract is gone, $25 million has dried up, and the track can't get a letter of credit. Prospects look grim.
Bernie Ecclestone, head puppeteer of the F1 circus, declared that the contract with race promoter Tavo Hellmund's Full Throttle Productions got cancelled six months ago after an unspecified breach of contract. In an interview with the UK's Press Association, Ecclestone reviewed the agreement with Full Throttle Productions, saying,