Adding to the positive news from the FIA World Motor Sport Council meeting earlier this morning, Circuit of The Americas has issued a press release confirming:

COTA has reached an agreement with F1 Management, ensuring the Formula 1 United States Grand Prix remains on the FIA Formula 1 World Championship race calendar.

Bernie Ecclestone "received his check today" (Joe Saward believes the price tag to now be $35MM).

Construction will resume immediately, ensuring completion for the 2012 race date.

Tavo's vision is referenced but as reported earlier, we do not see his information on the COTA website any longer.

You can read the full release here.

Congratulations to our friends at Circuit of The Americas! We are hopeful that the Texas weather will continue to cooperate so construction can progress at full steam ahead.

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Formula 1 adds the news to their front page