- Associated Press - Thursday, November 24, 2011

AUSTIN, TEXAS (AP) - Organizers for the proposed 2012 Formula One race in Texas say they have agreed to pay the sanctioning fee to secure a spot on next year’s F1 calendar.

Circuit of the Americas spokesman Jeff Hahn said Thursday a check for the sanctioning fee was ready but wouldn’t be sent until organizers receive a signed contract from F1. Hahn wouldn’t disclose the amount of the fee.

Last week, F1 boss Bernie Ecclestone said the U.S. Grand Prix in Austin would be canceled by the end of this week without a signed contract and proof of financing.

Hahn said he wasn’t aware of a response from F1 to the latest statement from organizers.

Track construction was halted last week amid the dispute, casting doubt on the race’s future.

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