Circuit of the Americas bosses have announced that construction will soon restart at the site of the 2012 US GP after a fee was paid to Bernie Ecclestone.
Work on the Austin track stopped in November after COTA and F1 supremo Ecclestone were unable to reach an agreement over a race contract. The Briton had said that the group had until before today's World Motorsport Council meeting to pay the necessary monies or the race would be called off.
Red McCombs, a founding partner of the Circuit of the Americas, has now confirmed that the required fee has been paid and that work at the site will recommence.
"Mr Ecclestone received his cheque today," McCombs said in a statement.
"We want to thank the fans supporting us, the local officials and businesses that have encouraged us, the State of Texas, Circuit of the Americas' staff and Bernie himself."
The race, the first US GP since 2007, is scheduled to take place on November 18 of next year and will be the penultimate grand prix of the season.