Formula One boss Bernie Ecclestone said he’s ready to cancel an F1 race planned for Austin next year and that he needs a guarantee or letter of credit that he will be paid from officials with Circuit of the Americas, according to the Press Association.
If a deal is not reached before the final World Motor Sport Council meeting on Dec. 7 in New Delhi, when the final 2012 schedule is officially ratified, Ecclestone said the race would be axed.
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