Second U.S. Formula One race reportedly on tap in New Jersey

Formula One hasn't competed on U.S. soil in four years, but now the international racing series reportedly is set to unveil a second American stop starting in 2013.

A news conference is scheduled Tuesday to announce that Formula One plans a street race in June 2013 in the Weehawken and West New York areas of New Jersey along the west side of the Hudson River, with the Manhattan skyline serving as a backdrop, according to reports in the Wall Street Journal and the Star-Ledger of Newark, N.J.

Formula One's return to the United States already was planned for next November in Austin, Texas, where a course called Circuit of the Americas is being built specifically for the series.

The last U.S. Grand Prix was held in 2007 on a 2.6-mile road course built within the famed Indianapolis Motor Speedway, which hosted the race for eight years. But the series and track then parted ways when they couldn't come to financial terms and other agreements to extend their contract.

But there always has been pressure on Formula One to return to the United States, because the U.S. is a major sales market for many companies that provide racing equipment or F1 sponsorships, such as Mercedes Benz and Vodafone.

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--Jim Peltz

Photo: Clouds pass over the skyline of midtown Manhattan in New York. Credit: Gary Hershorn / Reuters

Formula One's Jenson Button re-signs with McLaren

McLaren Mercedes quashed any speculation that former Formula One champion Jenson Button might drive elsewhere next year by announcing Wednesday that it re-signed Button to a new multiyear contract. Terms were not disclosed.

"I've made no secret of my ambition to continue winning races and world championships, and I fully believe this is the place where I can achieve those aims," Button, 31, said in a statement.

The Englishman stunned the Formula One world in 2009 when, driving for the Brawn GP team, he outdueled the powerful McLaren and Ferrari teams to win the world championship.

The next year Button himself moved to McLaren Mercedes, where he joined 2008 champion Lewis Hamilton.

This year Button has won two races (in Canada and Hungary) and is second in the title standings behind Red Bull's Sebastian Vettel as the series prepares for the Japanese Grand Prix on Sunday.

But Vettel has all but clinched his second consecutive championship with a commanding 124-point lead over Button even though there are five races left on the F1 schedule. Vettel has won nine of the 14 races so far this season.

-- Jim Peltz

Photo: Formula One drivers Jenson Button, left, and Lewis Hamilton of the McLaren Mercedes team Sept. 22 ahead of the Singapore Grand Prix. Credit: Paul Gilham/Getty Images