Finances cited as challenge for New Jersey F1 race

© AP, 4 December 2013
© Brian Nevins/Red Bull
© Brian Nevins/Red Bull/F1 Pulse

The promoter of a planned Formula 1 race in New Jersey says he's working to restructure the financing so the event can be held in 2015.

Leo Hindery Jr said Wednesday he wants the race to take place as soon as possible. But he calls it a "huge undertaking" to build the road course without tapping public money while also meeting the sport's timing demands.

F1 chief executive Bernie Ecclestone said last month during the U.S. Grand Prix in Texas that the New Jersey race would not take place in 2014, though it had been on the provisional calendar for the year.

Plans call for the race to run on a 3.2-mile temporary street circuit along the Hudson River in the towns of Weehawken and West New York, with the New York City skyline as a backdrop.

"This is a very complicated circuit and incredibly important to the overall Formula 1 program in North America," noted Christopher R. Pook, GP America special assistant to the chairman. "To get it right in New York will greatly increase awareness of Formula 1 and motor racing across the continent. I remain very confident about this event."

 

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