Following strategy for a New Jersey street circuit were scrapped just a day after they were exposed, the Upper State New York Monticello circuit put forward a suggestions last week although it has now been set that an agreement has been signed among Texas and sporting commercial rights holder Formula One Management. The agreement for Austin – nicknamed ‘Silicon Hills’ due to being one of the most famous regions in the USA for the technology industry – to serve as host city to the event will begin in 2012 and run through to 2021, with the race taking place at a purpose-built location.
“We are extremely honored and proud to reach an agreement with the F1 commercial rights holder,” said Tavo Hellmund, Managing Partner of race promoter Full Throttle Productions, after confirming the deal with FOM head Bernie Ecclestone.
“We have been diligently working together for several years to bring this great event to Austin, the State of Texas and back to the United States. All parties involved have a great amount of trust and confidence in each other and are committed to establishing the United States Grand Prix in Austin, Texas as a prestigious global event.”
“For the first time in the history of Formula 1 in the United States, a world-class facility will be purpose-built to host the event,” Ecclestone explained. “It was thirty years ago that the United States Grand Prix was last held on a purpose-built permanent road course circuit at Watkins Glen, which enjoyed great success.”