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Just under 300 days separate us from the return of the United States Grand Prix. At least that's the idea, now that construction has resumed on the troubled Circuit of the Americas on the outskirts of Austin, Texas. But an encouraging sign is that race organizers have started gearing up to sell tickets.

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Everything is bigger in Texas. So it's appropriate that the hubbub surrounding the imminent return of the United States Grand Prix to the Lonestar State should come down to a big last-minute deal.

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After a five-year absence, the United States is set to gain two Formula One races within the next two years: one in Austin, Texas, and another in New Jersey. But recent comments vocalized by F1's ever-outspoken commercial chief Bernie Ecclestone have cast doubt on the former.

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If you thought Formula One racing had a checkered history in America, well – you're right. Over the years, the United States Grand Prix has been held in more locations and has suffered from more hiatuses than a drug addicted musician's touring schedule. But a good portion of that drama has been played out in New York. Upstate, Watkins Glen hosted the United States Grand Prix for longer than any other single location, but the past few decades have also seen efforts to bring an F1 race to Ne

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Whether you're driving an F1 car or riding a superbike, getting around any racing circuit this side of the Nürburgring Nordschleife is a rather rapid affair. Which is more than we could say for building one – that bit takes some time. Together with the cash it takes to finance such a venture, that goes some way towards explaining why you don't see it happening every day. But that's what's going on as we speak in Austin, Texas.

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Unlikely though it may have seemed just a couple of years ago, Austin, Texas, has become the site of a battle between Formula One racing and economic development on the one hand, and government spending restrictions and fiscal responsibility on the other.

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If you thought this year's 20-race calendar was already packed, next year's is set to surpass it with a massive 21-race schedule for the 2012 Formula One World Championship.

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Austin's F1 track breaks ground – Click above to watch the video after the jump

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Love it or hate it, the Formula One circus is heading to Austin, Texas. The reinstated United States Grand Prix is set to take place in the Lone Star capital city starting in 2012 and the annual event will surely infuse an added boost of tourism revenue into the Austin area. But just how much will the initiative cost Texas taxpayers?

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There has been no shortage of entrepreneurs over the last couple of decades hoping to play host to a Formula One race. But as many of them have discovered, hopping into bed with Bernie Ecclestone is a surefire way to prove Roger Penske's motorsports maxim: "The quickest way to make a small fortune in racing is to start with large fortune."

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If you can't bring America to Formula One, then they'll bring Formula One back to America. So while the USF1 effort may have tanked, reports are mounting over the return of the United States Grand Prix to the F1 calendar.

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