Bernie Ecclestone has secured a second American Grand Prix for the 2014 Formula One calendar, after agreeing a 15-year deal for the sport to race in New Jersey.
The 82-year-old scrapped the initial deal last year after the event organisers were deemed to have broken the terms and conditions of the contract. Ecclestone though, has come to the financial rescue of the event and agreed to settle a number of their outstanding debts.
The race, which will now take place after the Canadian Grand Prix in 2014, will be located along the banks of the Hudson River in New Jersey, with the Manhattan skyline as its backdrop.
GPA executive chairman and race promoter Leo Hindery Jnr says the race has been long in the making and has praised Bernie Ecclestone for his continued support: “The Grand Prix of America at Port Imperial has been a dream of many in the sport for over a decade,” he said.
"We had hoped to be ready to race in June 2013, but by late last fall, it was clear we would not have in place in time the long-term capital structure needed.
"Thanks to the patient, invaluable support of Bernie Ecclestone and FOM (Formula One Management) we now have the long-term sanctioning agreement needed to go racing for years to come."
The race will be the second on the calendar that features in the United States, after the American Grand Prix in Texas debuted in November of the 2012 season.