// FORMULA ONE CONTRACT SIGNED

We have recieved confirmation from our reliable sources that Austin is a go for 2012, but there will be some changes with the various partners involved. These details will likely make their way out in the next 12 hours, so at this point we are still unclear what issues were resolved with the revised contract.

Needless to say, it's been a roller coaster ride the last few weeks with the statements by Formula 1 head Bernie Ecclestone and Circuit of The Americas, regarding the fate of Austin's future race. Tavo Hellmund's press conference also made it clear that there were some serious issues that needed to be worked out within the COTA organization, but the parts of the puzzle are still yet to be solved.

//UPDATE 01

Pit Pass is also reporting from their sources the same confirmation.

Stephen Cole Smith at Autoweek also reporting that a deal may be reached.

//UPDATE 02

Peter Habicht of F1US.co pointed out that the Circuit of The Americas website no longer lists Tavo Hellmund as a partner; he was previously listed as "Founding Partner." Very interesting...

//UPDATE 03

Andrew Benson (BBC), Alan Baldwin (Reuters) and Adam Cooper are stating that an unchanged 2012 F1 race calendar has been released but not yet confirmed by the World Motor Sport Council. We'll continue to stay on top of this.

//UPDATE 04

Offically confirmed by Circuit of The Americas and Formula 1: Details here