Organisers of the under-threat United States Grand Prix in Austin, Texas have said that they are ready and willing to pay the sanctioning fee for the 2012 race, though only if changes were made to a new contract offered to them.
The new US race has been plunged into jeopardy in recent weeks, after building work ceased on the site over a dispute between the organisers and promoters.The race was also hit with the loss of up-front payments of public funds from the Texan government to help to pay for the construction work.
And with the race now struggling to make their 2012 deadline, the race is thought to be set to be dropped from the 2012 calendar at the next meeting of the World Motor Sport Council in December.
But the Austin organisers said on Thursday that they were willing to keep the race alive, and pay their 2012 sanctioning fee, if Bernie Ecclestone removes some "unfeasible demands" from the latest contract offer.
"We have been ready to send Mr. Ecclestone a sanctioning fee cheque for some time now," track boss Bobby Epstein said in a statement.
"He hasn't received it yet because the new contract presented to us two weeks ago contained unrealistic and unfeasible demands. We have signed and returned a contract similar to what we anticipated receiving."
He added that time was now of the essence if the race was to be saved, saying: "This race should be a reality, but if we are going to make the 2012 race date, we must receive a countersignature in the coming few days.
"We believe the teams, fans, sponsors and local businesses share our enthusiasm and hope that their voices will be heard."
Earlier this week, Ecclestone confirmed that the Austin organisers only had until next week to sort out their issues, before the WMSC meeting on December 7th.
"It needs to be before [the meeting]," he was quoted as saying by Reuters, "We don't need any deadlines, having to thrash around at the last minute to do something. It's gone on long enough.
"They [the circuit owners] have got next week anyway. We are going to be in Brazil so they can come back next week."
He also insisted that the current dispute was not a case of "brinkmanship" from himself and the sport, saying that the issue lay with the Austin organisers.
"There's nothing to save," he shrugged, "They can't bloody well pay. What do you want me to do, wait until next year? To put all our cars on it, run around the circuit and everything and come back with no money?
"The teams want paying. It's not brinkmanship; it never has been with me. I've been trying to do a deal now with these people for 18 months or more. If they had the money, I'm sure there would be no problem."
The Austin race remains scheduled for November 2012, though a second US race in New Jersey is set to join the calendar from the start of the 2013 season.
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