Only a matter of days after a provisional calendar for the 2013 F1 season emerged featuring a date in June for the first F1 event in New Jersey, the inaugural event has been called into question after Bernie Ecclestone revealed that the existing contract has been cancelled.

Reports in recent months following the departure of event president Tom Cotter had suggested that the race could be heading for financial problems but it still featured on the 20-race schedule circulated to teams prior to the Singapore GP.

However, Ecclestone has now suggested that the race might not take place after organisers missed deadlines in the agreement they had in place with the commercial rights holder, meaning the contract they had is no longer valid.

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"[They] have not complied with the terms and conditions of the contract which is now gone anyway," he told the Guardian. "They don't have a contract."

The race was due to be confirmed on the calendar later this week when the FIA World Motor Sport Council meets and Ecclestone said there was still time for the issues in place to be rectified.

"We are pretty close to the final deadline," he added. "We have got a world council meeting coming up. I think if somebody got behind them it could happen in 2013 because they have come a long way with the circuit."