The organisers of the US Grand Prix in Austin are working to ensure that the event remains a fixture on the Formula 1 calendar beyond the current contract, which runs until 2026.
The Circuit of the Americas (COTA) first hosted the US GP in 2012, bringing Formula 1 back to the United States after an absence. This was well before Liberty Media's acquisition of the sport, which has since added two flashy new street races in Miami and Las Vegas to the schedule, making the US GP market more crowded.
Bobby Epstein, one of the key figures behind Austin's F1 project, revealed that they recently invested over $10 million to resurface the track ahead of the 2024 race.
"Max (Verstappen)'s poor review might have been the last straw, but it was just time to do it," Epstein told the Austin American Statesman newspaper. "Eight figures is what the bill was. Let's just say it was a big cheque."
With the addition of these new US races, Austin now faces more competition. When asked about the circuit's prospects for the future, Epstein seemed optimistic.
"I think we're pretty happy with where we are," said Epstein, who also serves as COTA chairman.
Austin's current agreement with Liberty Media secures its place on the F1 calendar until 2026, but Epstein is determined to ensure that Austin continues to host the race well beyond that.
"We're doing everything we can to keep Austin on the Formula 1 calendar," he explained. "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," Epstein concluded.
