Local press are reporting that the construction of the circuit will commence before the end of the year with completion expected by June 2012Ã¢â‚¬â€just weeks before the race is due to be held in Austin.
Tavo Hellmund, the man behind the Texas bid for the US Grand Prix, won a 10-year deal earlier this year but has remained tight-lipped about where the circuit will be built and how it is being financed.
Hellmund said at Silverstone that an announcement would be made on the circuitÃ¢â‚¬â„¢s location, but it has yet to be confirmed.
He also claims to have acquired the $250m to build the circuit “somewhere close to the airport”, but has failed to name his investors.
There was a lot of excitement back in May about where Formula 1 would turn to in its US return, with a number of current circuits mentioned including Laguna Seca and Montichello.
Few, however, would have anticipated the announcement from F1 supremo Bernie Ecclestone that a race would be held in Austin, Texas, on a circuit yet to be built.
With construction not due to begin until December, HellmundÃ¢â‚¬â„¢s project has no room for delay in construction if it is to form a June double-header with the Canadian Grand Prix and provide the spectacle that has been promised.
Should Hellmund fail in his bid to provide a US race for 2012, perhaps Ecclestone will seek alternatives and love it or hate it, we know Indianapolis can be ready.
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BIOGRAPHY: Ethan Hazard
BIOGRAPHY: Daniel Sturridge