With a deal having been signed to take F1 back to American shores with a race at the new Circuit of the Americas circuit in Texas, reports have now emerged that a second race in the USA could also be on the calendar by 2013.

The mayors of Weehawken and West New York have confirmed that they are in the early stages of discussions with investors headed by Leo Hindery Jr - former chief executive of the YES Network - to hold a race in New Jersey under the shadow of the Manhattan skyline as soon as 2013.

In a joint statement, Richard Turner and Felix Roque revealed that investigations were ongoing into the feasibility of a race and the possible economic benefits of hosting an F1 event.

"In these uncertain economic times when every direct and indirect revenue source is vital, our own Formula One race could be a very positive boost to our citizens," the mayors said in the statement published by the Wall Street Journal. "This said, we need to ensure that the financial benefits from the privilege of having these races in our towns are equitably shared and that no tax dollars are used.

"The investor group has already told us that our towns would be substantially compensated annually."

New York and the surrounding area had been mooted as a possible option for F1 before the deal was done for the race in Austin, with plans for an event at Liberty State Park falling through after a public backlash to the proposals.