Formula One racing is coming to New Jersey in June 2013 with a race through Weehawken and West New York. Formula One Grand Prix of New Jersey Executive Chairman Leo Hindery sat down with NJToday Managing Editor Mike Schneider to discuss the sport’s arrival in the Garden State. Hindery said Formula One races are held in major capitals throughout the world, but the New Jersey/New York area is a “giant hole” that will soon be filled.

Formula One has a 10-year agreement that is renewable at the end of the term. Hindery said the group is making “very substantial payments” to both Weehawken and West New York for the privilege of holding the race, though he declined to give a specific amount. He added that no money will be spent by the municipalities or the state for the races and the events could bring more than 100,000 people to the area staying in hotels, eating in restaurants and spending money at area businesses.

Hindery said the races will not inconvenience anyone in the area because no residents reside in the circumference of the track. Therefore access to people’s homes would not be interrupted during any events.

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