The U.S. Grand Prix Is On For 2012

From dead in the water to fit as a fiddle in a single stroke of a pen, Circuit of The Americas management says the track and its United States Grand Prix are now a "go" for 2012.

Construction on the 3.4-mile racetrack been halted when the Texas comptroller's office refused to front the $25 million it had pledged to pay the F1 sanctioning fee. But officials now say they've reached an agreement with F1 boss Bernie Ecclestone that paves the way for a date on the F1 calendar next year.

Founding partner, San Antonio billionaire Red McCombs, said in a press release, "Mr. Ecclestone received his check today."

The release hardly mentioned F1 organizer Tavo Hellmund, except for a canned quote from CoTA partner Bobby Epstein, who said, "We're glad that Tavo's vision of bringing F1 to the people of Texas will become a reality." Austin promoter Tavo Hellmund, an old friend of Ecclestone's, owns the rights to the USF1 race for 10 years via his company, Full Throttle Productions.

Engineering and construction teams working on the track will resume immediately, ensuring completion for the 2012 race date. That's good news for F1 fans in the US, and cracking good news for Bernie— the ol' boy's $25+ million richer. Looks like Texas has itself a race.