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Pitpass understands that the United States Grand Prix, scheduled to be held at the Circuit of the Americas, could be back on the 2012 calendar.
Highly reliable sources inform Pitpass that ahead of the new deadline granted by Bernie Ecclestone last week, and which runs out on Today (Wednesday), the relevant funding has been transferred to the Formula One World Championship Company.
Although nothing has been confirmed, Pitpass understands that an announcement will be made on Wednesday.
The news comes as the World Motor Sport Council is due to meet in New Delhi, at which time, amongst other things, the 2012 calendar will be ratified. Bernie Ecclestone is already in India, both for the WMSC meeting and Friday's FIA prize-giving gala.
Late last month, Bobby Epstein, founding partner of Circuit of The Americas, said that despite the ongoing problems he and his partners were willing to pay the sanctioning fee for the 2012 event with immediate effect, despite the fact that he regarded the new contract offered by Ecclestone as containing "unrealistic and unfeasible demands".
With Texas Comptroller Susan Combs refusing to pay the fee until racing is underway, the move represents an enormous risk by COTA, especially as work on the circuit, which was suspended on the 15th November - almost a year to the day before the cars take to the track for the first practice session for the inaugural Grand Prix - has totally stopped.
More to follow.
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