New Jersey's Long Term Plans

Formula One in the United States has often been a daunting prospect. The horrendous mistakes made at Indianapolis in 2005 compounded the already present issues surrounding the sport as it tried to establish a foothold in the country. However, COTA offered new hope and following a spectacular weekend last season, America appears to be ready for more Formula One action, as New Jersey have announced their long term commitments to the sport.
Yesterday evening the Grand Prix of America promoter, Leo Hindery Jnr, made the highly anticipated announcement that New Jersey will host Formula One in 2014 and beyond following a long term agreement being struck with Bernie Ecclestone.
Initially, the paddock intended to arrive in New Jersey in the coming days for the inaugural race around the streets of New York. However, the plans had to be scrapped at the end of last season, as construction work was delayed to the extent that the facilities would not be ready for a race in 2013. Consequently, many people doubted whether the River Hudson would ever greet Formula One, yet fortunately these pessimists have been proved wrong.
The new deal officially confirms the race to take place in 2014, with the current contract securing the future of the race until 2029. This long term deal is perhaps a slight risk considering the sport is in the process of regaining its reputation in the United States, yet the country is a valuable market for Formula One. This is emphasized by the preliminary calender for 2014 which features both Austin and New Jersey along with 19 other venues including the Russian Grand Prix in Sochi.
Leo Hindery Jnr is the GPA Executive Chairman, who has been promoting the race ever since initial planning began in late 2011. "The Grand Prix of America at Port Imperial has been a dream of many in the sport for over a decade," he stated. "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 to satisfy Formula 1 of our readiness. Thanks to the patient, invaluable support of Bernie Ecclestone and FOM we now have the long-term sanctioning agreement needed to go racing for years to come, starting in June 2014." Bernie's patience is hardly surprising. A street race in New York has been one of his fundamental priories in recent years as he looks to expand the brand of Formula One. With a contract signed and sealed, it appears that Bernie has once again taken this sport above and beyond what was previously possible.