A ten year deal for a waterside American grand prix amidst the New York skyline was announced officially on Tuesday.
New Jersey governor Chris Christie made the official announcement but the street race, to debut in mid 2013, will be privately funded, headed by Leo Hindery, a well-known American businessman and Le Mans class winner.

Unlike Texas’ purpose-built circuit for next year’s US grand prix, Hindery said the roads for the street race are already in place and only need to be resurfaced.

“We build our stands, our pits and paddock club. We put up barriers and catch fences. We put it up and take it down,” he said.

Also unlike Austin, there will be no government help.

“We are not receiving and never asked for any subsidies,” he insisted.

Tavo Hellmund, the Texas promoter, offered his congratulations and said the two US events – separated by more than 3000 kilometres – can coexist.

“I am excited for the east coast and feel Tuesday’s announcement is yet another acknowledgement of the viability, fan interest, economic benefits and prestige an F1 grand prix event brings to a region,” he said.

Even more excited is F1 chief executive Bernie Ecclestone.

“I’ve been wanting to do this for years,” he told the Bloomberg news agency via telephone. “You’ll be able to see the Manhattan skyline on TV.”

September 21, Touted as the belated final inspection date for Korea’s new F1 circuit, passed without notice.

That’s because it has been agreed with the struggling race organisers that the inspection can take place next week instead, according to Auto Motor und Sport.

Charlie Whiting’s inspection will now take place next Tuesday, despite the FIA rules requiring circuits to be given the green light several months before their debut race date.

But according to the German media report, it is only next week that the final layer of asphalt will be laid on the surface of the Yeongam layout.

Also to be inspected by Whiting will be the run-off areas, fences, walls and tyre barriers; crucial details that mere days ago were essentially incomplete.

Auto Motor und Sport said that, from a commercial point of view, the organisers have fully paid their race sanctioning fee.

“I believe it (the Korean circuit) will eventually be signed off because Bernie (Ecclestone) is desperate for it to be signed off.

“But it’s not great PR for the circuit or the FIA,” said Telegraph correspondent Tom Cary.

Bernie Ecclestone on Sunday sounded defiant amid reports Korea is not ready to welcome formula one.

Yeongam, about a four hour drive from Seoul, is scheduled to host its inaugural grand prix late next month.

Karun Chandhok did the first demonstration laps of the track on Saturday in a Red Bull, admitting that the venue is not yet complete.

Photos showed some buildings and grandstands are half built, fences missing, run-off areas unpaved and the track with only an initial layer of asphalt.

“How can a grand prix take place here?” wondered the German newspaper Bild am Sonntag, captioning a photo of a construction worker carrying materials against the backdrop of a half-built building.

The newspaper said even a full supply of water and electricity is not yet present.

Additionally, many seats in the main grandstand are not installed, while parking lots are not ready to accommodate cars.

“There are problems,” admitted F1 chief executive Ecclestone, “but we assume that the race can take place.

“The circuit is definitely ready, but as for all the buildings, perhaps not,” admitted the Briton.

“So we may have to put up some tents,” Ecclestone joked.