Ecclestone Says No New Jersey Grand Prix for 2014 Season

Bernie Ecclestone says that there will be no New Jersey Grand Prix on the 2014 schedule because the venue has failed to come up with the $100 million required to stage the race. However, the organizers claim that they will have the money before the December calendar deadline.

"It's not on the cards for next year. They haven't got any money. It is such a muddle and a mess that it is not worth doing," said Ecclestone.

The race’s spokesperson, Alex Howe, says that it is still trying to get the money in time to put the race on the calendar.

"We don't comment on financial matters but we are on track for 2014 and will have a statement following the announcement of the official 2014 FIA Formula One World Championship schedule," said Howe.

The final calendar will not be ratified by the FIA until December, but the circuits are still required to have either a current contract or the money in place before the vote.

The New Jersey Grand Prix was scheduled to use a 3.2-mile street circuit in Port Imperial, New Jersey with the Manhattan skyline as the race’s backdrop across the Hudson River.

The race had previously been scheduled for 2012 but was not ready in time.

The race’s major promoter is Leo Hindery Jr., a former telecommunications magnate and was among the winning drivers of the GT2 class-winning car in the 2005 24 Hours of Le Mans.

Source: CNN