Despite all the publicity surrounding the return of Formula 1 in the U.S. next year, it looks increasingly unlikely that the event will take place in the brand-new Circuit of Americas track located in Austin, Texas.

Bernie Ecclestone, longstanding F1 chief executive, has issued an ultimatum to the race organizers, announcing that they must get their act together and solve their problems before the next meeting of the World Motor Sport Council on December 7, which will ratify the 2012 F1 calendar.

“It needs to be done before that”, said Ecclestone. “We don’t need any deadlines; it’s gone on long enough. They have got until next week anyway. We are going to be in Brazil so they can come back next week.”

The Texas circuit owners face a raft of problems, ranging with a breach from the promoters that led to not having a contract to host the race to withdrawal of state funding that has led to work on the circuit been halted.

Race promoter Tavo Hellmund said that circuit owners are to blame for the possible cancelation of the race: “The reason we don’t have a contract is because, as a project, we have failed many times over to fulfill our financial obligations to Formula One. It’s literally that simple.

He added that Ecclestone has so far, helped a lot: “Right now we should be praising Mr. Ecclestone. We were in breach on multiple issues as late as May. And he sent numerous requests and letters that we were all aware of how to fix it and we failed to do that.”

Circuit of the Americas track president Steve Sexton commented: “We have been excited for and working towards a 2012 USGP race and now understand that Mr Ecclestone is interested in moving the Austin race to 2013,” Sexton said. “We know the US market is important to the teams and their sponsors and 2013 certainly allows time for the Circuit of the Americas to be ready.”

So it looks like F1 won’t come to the U.S. in 2012 after all. With New Jersey having already secured a street race for 2013, Austin better get its act together – and fast.

Story References: ESPN