Nov.15 (GMM) The fate of the 2012 US grand prix project has continued its downward spiral this week.

Bernie Ecclestone intensified the speculation about the Austin event by saying in Abu Dhabi that he would not bet money it will take place.

His references to disagreements within the organising bodies is now causing alarm in the Texas comptroller's office.

The Circuit of the Americas was deemed eligible for millions in annual funding under the Major Events Fund, but comptroller Susan Combs has now revealed her concern.

"I am concerned with reports that have come out over the weekend regarding possible problems with the Texas race even taking place," she said in a statement published by local YNN News.

"If and when an application is received, we will do an extensive review of the application to ensure taxpayers are protected, and also to determine if this will have a positive economic impact for the taxpayers of Texas," added Combs.

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