The Jersey Journal's Political Insider, alias Opinion Page Editor Agustin Torres, rides in an Infiniti IPL G Coupe driven at high speeds by former Monaco Grand Prix winner David Coulthard on the Grand Prix of America circuit in North Hudson on June 11, 2012.

WEEHAWKEN

-- With no fanfare, township and West New York officials signed a new deal with Formula 1 promoters that will bring the popular international motor sport to local waterfront streets starting next June, sources told the Political Insider.

The contracts were signed in the Weehawken Elks Club building on Boulevard East. Representing the two municipalities were Mayors Richard Turner of Weehawken and Dr. Felix Roque of West New York, said Insider sources.

Leo Hindery, the former YES Network executive who is heading up the organizers of the Grand Prix of America, announced earlier this month that he has a signed agreement with the London-based F1 and its head, Bernie Ecclestone, to go ahead with the New York/New Jersey annual race.

The grand prix will be held on North Hudson public streets. Sources said road engineers for the F1 race have already started measuring and inspecting the Port Imperial Boulevard section of the 3.2-mile, Hermann Tilke-designed circuit. Work on the roads, including parts of Ferry Boulevard, Pershing Road, Boulevard East,and Anthony DeFino Way (60th Street) will follow the inspections.

The race seemed in jeopardy when Ecclestone kept announcing that the race promoters failed to meet deadline markers. Hindery's original contract was terminated last fall.

Yesterday's agreement also paves the way for North Bergen and Guttenberg to get a piece of the F1 pie, say sources. It is expected these municipalities could realize $100,000 annually. It is not known yet what Weehawken and West New York will earn but it was slated to receive -- and did get one year's payment -- $1 million a year in the dissolved contract. It is not known whether the other two communities will be paid by the F1 organizers or through the two principal municipalities in the new contract -- since it was a clandestine signing.