The Associated Press is reporting the head of Formula One is giving local race organizers another week to reach a deal on a 2012 race at the Circuit of the Americas track in southeast Travis County.
The AP quotes F1 boss Bernie Ecclestone as saying "the deadline hasn't been met so we are still trying to make it happen ... they need to get some money and a pen." He went on to say "if it isn't all signed before the World Motor Sport Council meeting (the race) can't happen."
That meeting is December 7th.
Ecclestone said last week that today would be the deadline to get a deal finalized. Local organizers say they have sent Ecclestone a contract and are ready to pay the sanctioning fee for the race, but Ecclestone has apparently demanded organizers agree to a different contract that spells out his terms.
Work at the Circuit of the Americas track stopped two weeks ago, as the contract dispute became public.
The first race at the track was tentatively scheduled for November 18, 2012.
