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Previously set to host Formula One in 2012 and MotoGP in 2013, the Circuit of the Americas promises to bring more premier motorsport racing to the United States of America. However, news coming out of Austin, Texas is that construction of the new GP-quality circuit has been halted because a contract between Formula One and Circuit of the Americas has not yet been conveyed to the race track according to the parties’ previously agreed upon timetable.

While it is not clear why the contract from Formula One has not been delivered to organizers of the Circuit of the Americas, the news that the construction at the circuit’s location, with its over 300 construction workers, has been halted could mean delays in having the venue ready for the 2012 Formula One season, which in turn could cause delays with MotoGP’s plans to run at the track a year after the premier car racing series. The Circuit of the Americas organizers say construction on the facility would resume once delivery of the Formula One Grand Prix race contract occurs.

Fiat Chairman Luca di Montezemolo has thrown some more fuel on the never-ending fires about a Valentino Rossi’s rumored switch to Formula One racing. Fiat as you might remember is the title sponsor of the factory Yamaha MotoGP team, and also the parent company to Ferrari. In what he calls a “great idea”, di Montezemolo made it clear that he would like to see the seven-time World Champion driving for Corse Rosa.