Ecclestone has put money into New Jersey race

Saturday 11th May 2013, 23:25 by TF1T Staff 

Red Bull Racing

The New Jersey Grand Prix, which will feature a Manhattan backdrop, will go ahead in 2014 according to Bernie Ecclestone, who revealed that he and F1 itself, have invested in the race.

The event looked as though it might be scrapped after it was first delayed by a year, before financial struggles and a lapsed contract looked to have put the final nail in the coffin.

The situation does however seem to be improving after the organisers confirmed that Long Beach founder Chris Pook had taken up a key position amongst the board.

Ecclestone meanwhile admitted F1 has invested in the race to ensure it goes ahead - which is an unprecedented move for the 82-year-old.

"There's no reason why it shouldn't happen," he told Reuters. "We've put money behind it to pay a lot of the things off, a lot of their debts.

"So I'm hoping now we are going to get it together. We're going to try and make it happen next year," he added.

Ecclestone believes the appointment of Pook - a long time friend - will get things moving again.

"He knows all the things not to do, which is important," he said. "The other people weren't sure what not to do. They thought they knew what to do but not what was the important thing."

LATEST NEWS

F1 NEWS

Red Bull's Total fuel causing sensor failures - FIA

F1 NEWS

McLaren to launch legal action against Red Bull

LOTUS

Maldonado cleared to start Chinese GP from pits

RED BULL

Vettel: 'Ricciardo is doing a better job than me'

CHINESE GP | QUALIFYING

Hamilton dominates wet qualifying to take pole

CHINESE GP | FP3

FP3: Ricciardo quickest as rain hits Shanghai