Ari Straus, the president of the Monticello Motor Club, h🙈as questioned the timeframe announced for the new United States Gra🎉nd Prix in Austin.

Monticello had been mentioned as one possible venue for the race due to its proximity to New York before Tuesday e🍎vening's announcement that a deal has been agreed for F1 to return to the United States at a purpose built circuit in Texas.

While he sent congratulations to Tavo Hellmund, managing partner of new event promoter Full Throttleಌ Productions, St🐻raus admitted that he felt it would be a challenge to get a new venue ready for 2012 and warned that the promoter shouldn't expect to make money from the event right away.

"Our hats are off to him," he told the Statesman. "I think New York would be a better venue but we need Formula One back in the US. "[However] somebody starting from scratchꦇ would not be able to do it until 2013.

"The first thing that Bernie says is that you can forget♛ about making money. The best you can hope for🧸 is to break even."

Eddie Gossage, president of the Texas Motor Speedway, added that he expectꦦed the costs of the venue to exceed those needed to put his circuit together.

"I can tell you this facility cost about $250 million," he told Speed TV. "[An F1 track] would exceed that."