Ecclestone has received US GP check

Ecclestone: Pay me now or pay me later, but you will eventually pay me

(GMM) Preparations for the inaugural US grand prix in Texas are set to get back into gear.

The FIA announced after Wednesday's World Motor Sport Council meeting that the event is still scheduled to be held at the Circuit of the Americas in Austin next November.

Earlier, Bernie Ecclestone had said Wednesday was the final deadline for a dispute with the organizers – who had halted construction of the circuit – to be resolved.

"Mr. Ecclestone received his check today," chief backer Red McCombs said in a statement.

Founding partner Bobby Epstein added: "We're glad that Tavo (Hellmund)'s vision of bringing F1 to the people of Texas will become a reality."