The Grand Prix of America at Port Imperial has been boosted by investment from Formula 1, the sport's commercial chief Bernie Ecclestone has acknowledged.
"We've put money behind it to pay a lot of the things off, a lot of their debts," Ecclestone told Reuters. "So I'm hoping now we are going to get it together.
The race on New Jersey streets and park roads along the waterfront, with New York City skyscrapers as a backdrop, was originally scheduled for this year but postponed until June 2014. Last week, race organizers announced that Long Beach Grand Prix founder Chris Pook had joined its management team to oversee planning, construction and execution of the event, a move that was welcomed by Ecclestone.
"He knows all the things not to do, which is important," Ecclestone said of Pook. "And the other people weren't sure what not to do. They thought they knew what to do but not what was the important thing."
Meanwhile, Ecclestone added that the speculation of an F1 return to Long Beach could be set aside if New Jersey goes ahead as planned.
"If we do this (New Jersey), it (Long Beach) won't (happen again)," Reuters reports Ecclestone as saying.