It looks like all that has been done is a deal between Tavo Hellmund, Full Throttle Productions, and Formula 1 management. No track design, no land purchased for the track, no tenative dates. It would have to be early or late in the season or we end up with Dallas in 1984 again where the track was disintegrating because of the heat and Mansell collapsed while trying to push his out-of-fuel car across the finish line (not that I see any of the current prima-donna drivers doing that...)
We'll see how it turns out; a boon or a bust.
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