( CNN ) -- The American dream of holding two Formula One races next season has been kept alive after a new Grand Prix of America was added to the 2014 calendar . There had been fears that the new race on the East Coast would not go ahead after Formula 1 boss Bernie Ecclestone told CNN last month that race organizers had not raised enough money to fund it . An inaugural grand prix in New Jersey has now been included in the record-breaking 22 race calendar issued by motorsport 's global governing body , the FIA , Friday . `` The entire Grand Prix of America team is thrilled to join the 2014 FIA calendar and we look forward to bringing world class Formula One racing to New Jersey , '' race promoter Leo Hindery , Jr. said . But the race , scheduled for 1 June , has a provisional status which means it could still be dropped from the sport 's global tour . Mexico has also been penciled in to stage a grand prix for the first time since 1992 , when the event was held in Mexico City . A provisional race in 2014 has been given a date of 16 November . Korea , the destination for the next race of this season , has been moved forward to April and has also been given provisional status on the 2014 calendar . F1 returned to the U.S. in 2012 with the inclusion of the U.S. Grand Prix held at a new circuit just outside Austin , Texas . The Grand Prix of America is planned to be held on 3.2 miles of public roads in Port Imperial , a district in the New Jersey towns of West New York and Weehawken . It snakes alongside the Hudson River and would give the race a spectacular backdrop of Manhattan 's historic skyline . Construction on the site is well under way , and last year three time world champion Sebastian Vettel and former F1 driver David Coulthard drove demonstration runs on the circuit for the Red Bull team . However , a lot of the work has focused on the pit building in a new block of garages which was already planned to be built . The FIA will need to approve the site before it is given the green light in 2014 . The New Jersey race has already been postponed once , having been initially scheduled for June this year . The wheels started to come off in August 2012 when Tom Cotter , the president of the race , unexpectedly resigned . It was recently revealed that the Grand Prix of America organizers appointed investment bank UBS in June to raise $ 100 million which is required for the race to go ahead . The 2014 Formula 1 calendar features a record 22 races , starting in Australia on 16 March with a finale in Brazil on 30 November . Austria also makes a return to the calendar in June -- a race that has not been given provisional status . The return of Austria means Red Bull , whose F1 team has won the drivers ' and constructors ' titles for the past three years , can look forward to a home race . The race will be held at the Red Bull Ring , which staged the Austrian Grand Prix between 1970 and 1987 in its former guise as the Osterreichring . Pirelli rubber to stay . The meeting of the FIA 's World Motor Sport Council in Croatia also confirmed Pirelli will continue as F1 's sole tire supplier in 2014 . The Italian company 's future in the sport was in doubt after a series of blow-outs wreaked havoc at the British Grand Prix and led to fears that the drivers ' safety was being compromised . Earlier in the season , a spate of worryingly delaminations -- where the tire layers separate -- had already led to worries the tires were not safe . But Pirelli have since introduced a new tire structure for the second half of the season and the FIA has agreed the company will continue to showcase its rubber in motorsport 's elite racing series . The FIA said in a statement : `` In order to cover the transition period and considering the contracts already settled by FOM and the teams with Pirelli , the WMSC confirmed that Pirelli may continue to supply tires to competitors in the FIA F1 World Championship , subject to the requisite technical and safety standards of the FIA being met . '' The FIA also announced that , along with the company headed by F1 's commercial boss Ecclestone , it had also agreed a `` strong and stable sporting governance framework . '' The deal known as the Concorde Agreement effectively splits the sport 's commercial revenues between the governing body , Ecclestone 's group and the teams . The FIA revealed it would have a larger share of the pie , stating : `` This agreement provides the FIA with significantly improved financial means . '' F1 generates more than $ 4bn in revenues annually -- and with more races in 2014 that sum could be set to rise .
A new Grand Prix of America is added to the 2014 Formula One calendar . The New Jersey race is scheduled for 1 June but given provisional status . Races in Mexico and Austria are also added to F1 tour . - 24