AUSTIN, Texas - The new track built for Formula One's U.S. Grand Prix was given the go-ahead Tuesday for the Nov. 18, 2013, race.

Circuit of The Americas officials announced that the track located a few miles southeast of downtown Austin passed its pre-race inspection by the Federation Internationale de l'Auto-mobile, the sanctioning body for international motorsports.

The U.S. Grand Prix will be F1's first race in the United States since 2007.

The outlook is bleak, meanwhile, for the inaugural Grand Prix of America in New Jersey next June. F1 CEO Bernie Ecclestone told British newspaper The Guardian that the contract had been torn up after organizers missed deadlines that had been part of their agreement.

That race had been set for a 3.2-mile street circuit along the Hudson River opposite the Manhattan skyline.

"They don't have a contract," Ecclestone told The Guardian.

Alex Howe, a spokesman for U.S. promoter Leo Hindery, said he wouldn't comment on financial details or contract negotiations. However, Howe said "everything is still on track and moving forward, nothing has changed."

F1's provisional 2013 schedule was released last week, and the New Jersey race was listed as "subject to confirmation." The schedule will be finalized Friday, and Ecclestone has said the race will not happen if funding is not in place by that date.