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The F1 United States Grand Prix, scheduled to take place in October at Austin's Circuit of the Americas, has been canceled, the chairman announced in a statement on Twitter.


"The cancellation is prudent, but painful," COTA chair Bobby Epstein wrote. "After a sold out 2019, advance ticket sales deposits were up nearly 250 percent over the prior year, and our staff was preparing our biggest event ever."


The organization recently canceled the 2020 Red Bull Grand Prix.

Epstein told the Austin American-Statesman that the Grand Prix is estimated to have had a direct impact of $392 million last year, with a total impact of more than $800 million.

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