Austin's $10 Million Investment Secures Place In Formula 1's Future
Oct.21 - Organisers of the US GP in Austin want to safeguard their place on the Formula 1 calendar.
The event at the Circuit of The Americas (COTA) was first held in 2012, prior to the Liberty Media era and having ended the drought of American races in Formula 1.
But since Liberty Media took over, spectacular and entertainment-focused US street races in Miami and Las Vegas have joined the ever more cluttered calendar.
Bobby Epstein, one of the masterminds and financiers of Austin's F1 project, revealed at the weekend that the circuit was forced to spend over $10 million to resurface the track for the 2024 edition.
"Max (Verstappen)'s poor review might have been the last straw, but it was just time to do it," he told the Austin American Statesman newspaper.
"Eight figures is what the bill was," he revealed. "Let's just say it was a big cheque."
And with Austin now competing with the glitz and glamour of Miami and Las Vegas, can the current US GP host continue to look into its F1 future with confidence?
"I think we're pretty happy with where we are," Epstein, COTA chairman, said.
The current contract with Liberty Media runs until the event's 2026 edition.
"We're doing everything we can to keep Austin on the Formula 1 calendar," he said, "and our immediate future is assured.
"When it comes to the new street circuits in the US, you have to weigh our track record against their uncertain future. We have a proven track record."
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