A dark cloud of uncertainty has gathered above preparations for the 2012 US Grand Prix in Austin.
The Austin City Council on Thursday decided to postpone its vote on whether or not to endorse the event.
The 2012 Formula One US Grand Prix needs the city’s support to be eligible to receive $25 million dollars from the Texas Major Event Trust Fund.
“We felt we had support going into this meeting,” said the F1 circuit’s president Steve Sexton. “We thought we would get the necessary approval today to move forward, but any support is welcomed and encouraged.
“For a $300 million economic project, we would hope to gain support certainly next Wednesday and move on,” he added.
“Personally, I have a significant amount of discomfort in terms of moving these documents forward in this way today,” said Council Member Morrison.
The F1 project’s lawyer Richard Suttle admitted he is also nervous.
“I can’t say it any more emphatically that we are now nervous from a daily basis. If you push it, it gives us great trepidation on this thing pulling off,” he said.
Construction on the new Circuit of the Americas began on December 31, 2010, and is due to be complete by June 2012.