Another day, another drama with Bernie Ecclestone at the center. This time, it appears that the the Formula One CEO and the series' top brass have "torn up" the contract for New Jersey's Grand Prix of America. In a new report from The Guardian, Ecclestone claims that the race's organizers have missed deadlines, leading to the scrapping of the race.

The main concern since the announcement of the New Jersey race in October of last year has been its financials – that is, the ability for event organizers to raise the necessary funds to put on the race. While construction has begun on the circuit, a motorsports industry insider told the Guardian in the report, "pricing for sponsorship etc. is unrealistic and not obtainable in the current market."

Such high pricing could be motivated by the massive fees associated with hosting an F1 race. The ten-year contract for Grand Prix of America would have been for £150 million ($193.9 million USD) and an annual estimated fee of £15 million ($19.3 million). The 2013 provisional calendar for F1 showed the New Jersey race as subject to confirmation, and a lack of commitment to the race may have also scared away sponsors.

The Guardian says dissolution of the contract is a "big blow to F1." Ecclestone is reportedly moving on, looking for new suitors including a GP in Mexico. Ecclestone tells the Guardian, "After Mexico, we want to go to South Africa."

The Grand Prix of America, which was to take place on a 3.2-mile street course on the New Jersey side of the Hudson river was set for June of 2013. It appears that now that the United States Grand Prix is locked in for in Austin, Texas, New Jersey may well be passed over altogether.

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    • 1 Second Ago
      D Christin
      • 2 Years Ago
      Bernie needs to GO AWAY, the man must hate the idea for the US getting too involved with F1. I love the series and would love it to grow in the US as well as other parts of the world.
        • 2 Years Ago
        @D Christin
        That's the thing...Bernie doesn't hate the U.S. It's a huge untapped market. As long as they agree to the exorbitant fees that he sets forth, he'd happily agree to host an F1 race on the moon if he could.
      • 2 Years Ago
      Bernie Ecclestone continually suffers from "Little Man Syndrome" and has all his life. Its a shame that because he is so short, he feels the need to bully, control and throw his tantrums in order to force his way and disappoint tens of thousands of fans around the world. Its refreshing to know that another country (Germany) is going after him and will soon indict him for corruption. Which is all that this New Jersey race is about - Him trying to shake down another city for a suitcase full of untraceable money to go ahead with a race after getting everybody pumped up and committed to it.. Well Bernie.. You are messing with the wrong people to be asking for a shakedown in the geographical area where shaking down businesses has become an art form... I'm sure there is a place in the pine barrens that you will be having a meeting soon! Your known by the company that you keep and your gay Nazi friend Max Mosley and fellow Munchkin Jean Todt (another criminal who has just barely managed to stay out of the laws hands because he is a genius) won't be able to save your arse! The saddest part is that your daughter is going to inherit the business and she will kill Formula 1.
      • 2 Years Ago
      This sounds like Bernie playing his old games again... Bernie's said that he's wanted to hold a race in the NY/NJ area for years, and now that the opportunity has presented itself, I find it very hard to believe that he's just going to casually let it fall by the wayside.
      • 2 Years Ago
      F1 is the most unreasonable an un fan friendly auto sport in the world , Bernie needs a huge dose of reality .At this rate only the Saudis and Chinese can afford to host a race , oh and they subsidize their resident ticket pricing also to fill the stands .
      • 2 Years Ago
      Why there is always some sort of drama involve this man... he must win best actor of the year!
      Grant Leavitt
      • 2 Years Ago
      what a ******* douchebag. Ecclestone needs to go and a more fan-orientated guy should take his place. I am sick and tired of the dramatics and lowbrow moves that Ecclestone has done in order to get race organizers to giddy-up on their constructions. Look what happened, partially, with COTA, and now NJ.
      • 2 Years Ago
      We called to get a price on an RV spot at the track in Austin, TX. We were given a price of $7500.00. The ticket packages cost $7000.00 for 2 people, and the motel included is 2 hours away from the track!! Too bad, because I was really looking forward to seeing the race in Austin. Oh well, I will watch it on TV and save the 5-8 thousand dollars!!
        • 2 Years Ago
        Most of this doesn't even sound remotely realistic. Tickets were very reasonably priced and there are tens of THOUSANDS of hotel rooms in the area. You may have called too late, been stuck with really high priced seats, but this was not an issue when I was looking to book a month ago.
      • 2 Years Ago
      yup he needs to go away..unfor hes just too selfish and arrogant and only works for money and not interest that comes from heart..and i dont know who will replace him
      • 2 Years Ago
      Bernie says whatever he wants to get people to act when he wants. He needs the race to happen to make his money, it will happen, this is just to get them to act quickly.
      • 2 Years Ago
      The Mexico race will be paid for with drug money from the united states. The Africa race would be paid for by the ransom money they get from the ships they hijack.
      • 2 Years Ago
      Posturing. Bernie has been trying to get a race in or near New York city for years, he'd never abandon the idea this easily.
        • 2 Years Ago
      • 2 Years Ago
      Weekend at Bernie's This guy looks like a cartoon.
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