Speedway owner hopeful of Grand Prix in US

Indianapolis:

Indianapolis Motor Speedway owner Tony George is hopeful that the United States Grand Prix will return next year. In a written statement, George said he and Bernie Ecclestone, the Formula One boss, met briefly on Friday in Indianapolis to discuss a possible contract extension for the US GP but will instead wait until after Sunday's race to negotiate in earnest. "Many months ago, Bernie and I agreed to wait until the conclusion of the 2006 event to evaluate our future together," said George. "We expect to do that in the coming weeks." F1 has been racing in America for the past seven years, but the original contract with the speedway is set to expire after this year's race. F1 in America Ecclestone also raised questions about the future of F1 in America when he said he didn't think it was necessary for the series to race in the US. Yet, George sounded optimistic that the two sides could reach a deal to keep the only American race on the F1 schedule in Indianapolis. "The good news is we enjoy the partnership that has been forged and are committed to working toward continuing to build on the foundation that has been laid over the last seven years," said George. The timing of the announcement also was a bit surprising since speedway president Joie Chitwood said on Thursday he hoped negotiations would continue throughout the weekend. Instead, Chitwood, like George and Ecclestone, must now wait to find out whether the two sides can reach a deal. (AP)