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U.S. Grand Prix has week to save race

Updated: November 17, 2011, 6:16 PM ET
Associated Press

LONDON -- The 2012 U.S. Grand Prix will be canceled unless the organizers in Texas sign a contract with Formula One boss Bernie Ecclestone by the end of next week and prove they have the money to put on the race.

Ecclestone wants the dispute with Circuit of the Americas officials in Austin settled before the season-ending Brazilian Grand Prix on Nov. 27.

"It's all very simple -- they don't have the money," Ecclestone told The Associated Press on Thursday. "We don't have a contract. ...

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