Formula One

F1 grand prix in New Jersey put on hold until 2014

London, England (Sports Network) - Formula One top boss Bernie Ecclestone confirm on Friday that the inaugural Grand Prix of America in New Jersey, scheduled for next June, has been postponed until 2014.

According to a report from the New Jersey Star-Ledger on Thursday, the race on the streets of Weehawken and West New Work, N.J. "has been postponed because local organizers haven't raised enough sponsorship money and are behind in obtaining permits needed to alter local streets."

The race is to be contested on the 3.2-mile Port Imperial street circuit that runs along the banks of the Hudson River in Weehawken and West New York, with the Manhattan skyline as its backdrop.

In confirming reports that the GP of America has been delayed for one year, Ecclestone said race organizers had not met the terms of the contract. For months, there had been speculation that the New Jersey event would not take place next year.

"It is not going to happen next year," Ecclestone told Eurosport. "If they came up with the contract with us and we were satisfied the question is could they carry out the work in six months? Winter in New York is not good."

The GP of America was slated as the eighth round in the 20 grand prix calendar for 2013. There are currently no plans for a replacement event next year. Last month, F1's governing body, the FIA, released the schedule for the upcoming season. The round in New Jersey was listed as a provisional addition and subject to confirmation.

"We are going to be racing at Port Imperial, unfortunately just not as soon as we hoped and expected," race promoter Leo Hindery Jr. said in a statement. "We promised (New Jersey) Gov. (Chris) Christie, the towns, the sport and its international fans the best possible experience, and unfortunately we need additional time to ensure that happens."

Next month, F1 will compete in Austin, Texas, making it the first grand prix to be held in the United States since 2007. The new Austin track, the Circuit of the Americas, will host the USGP each year up to 2021.

10/19 11:58:54 ET

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