A report in the Wall Street Journal claims that officials are set to announce that a street circuit in New Jersey will play host to a second Formula 1 Grand Prix on American soil from as early as 2013.
The sport is already returning to the United States at the Circuit of the Americas in Austin, with the venue currently under construction in the state of Texas.
It is understood that a press conference will be held on Tuesday to confirm details of the race, which will take place on a layout alongside the Hudson River, using the New York skyscrapers as a background for the event.
Should the event get off the ground, then this represents a major step in building further interest in the sport on American shores. A race that supports the Austin event will make it the fourth race on the calendar to be held in the US timezones, which could increase to six if rumours of Mexico and Argentina making returns to the calendar come true.