Austonia daily newsletter—direct to your inbox 6 a.m.

become a member

Austin could no longer host the United States Grand Prix if a ten-year contract isn't renewed at Circuit of the Americas. (Circuit of the Americas/Facebook)

In May, Circuit of the Americas chairman Bobby Epstein looked back on 10 years of Formula 1's U.S. Grand Prix at COTA confident that the race would be here to stay in Texas. But sources tell Austonia that securing another contract may be in jeopardy.

Some insiders worry that COTA's 2021 Grand Prix race might be its last.

The multi-day fest from Oct. 22-24 will include a 56-lap race over the 3.3-mile track, food and musical performances from two acts, including Billy Joel at COTA's 1,500-acre facility in Southeast Austin. But after this year, the U.S.' first F1-specific track could lose its headline event.

The facility's inability to secure a contract thus far comes down to the Texas Legislature, a new threat in Miami, and, most importantly, money.

The first F 1 race will take place in Miami next year. (Hard Rock Stadium)

Every year, Formula 1 receives roughly $25 million from Texas' Major Events Reimbursement Program, a taxpayer-funded initiative that helps bring big sporting events like 2017's Houston Super Bowl to the state. A 2019 report by the Reimbursements Program on that year's race said the "data is inconclusive" on if the event has a positive or negative economic impact on the state with the resources given. In 2018, the Austin-American Statesman reported that COTA had brought back a total of $75.7 million between 2015 and 2017 for hosting the U.S. Grand Prix.

Legal issues have also barred Epstein and Co. from securing another 10-year contract earlier: in 2018, the company lost its yearly $25 million bid after failing to submit a human trafficking prevention plan as part of its yearly application.

That same year, F1 managing director of commercial operations Sean Bratches told the Associated Press that the organization hopes to stay at COTA "for many years to come."

However, in May, the racing league announced that it had secured a 10-year contract to hold the Miami Grand Prix as American interest in the sport soared following the three-season "Drive to Survive" documentary, which gives behind-the-scenes looks at drivers and races of the Formula One World Championship.

Epstein is optimistic about the new U.S. location and told Autoweek in May that "more races in our time zones are good for the sport."

"I think we're getting double the impact this way," Epstein said. "Miami should sell out huge the first year and maybe the second year and then after that, I think we'd be spitting audience if we were around the same time on the calendar. So the spread is fantastic."

Bobby Epstein recognizes the 1 millionth customer of COTA in 2013. (COTA/Facebook)

The new F1 venture may impact COTA's contract, however: in an opinion piece for the Fort Worth Star-Telegram, writer Mac Engel said Texas is unlikely to fork over taxpayer money if the facility is no longer the only F1 track in the U.S.

According to Engel, the Major Events Reimbursements Program agrees to provide funding only "if Austin holds the only F1 race in the country."

Epstein hasn't addressed such claims; by contrast, he feels as though there's room for a third race in the U.S. as ticket sales rebound after COVID.

"In the first week, we sold pretty much all the tickets we put up for sale and we plan to break the 2019 attendance record," Epstein told Autoweek. "Texas was the first place to lift COVID-19 restrictions (in the U.S.) and put on sporting events, and we're full. We're at 100% capacity.

Despite ventures to diversify revenue at COTA—Epstein's USL soccer team Austin Bold has seen its own share of troubles, and the facility plans to develop into a multi-faceted entertainment arena complete with music venues, a waterpark, condominiums and an 11-story hotel—a loss of its primary event could be devastating for the $300 million complex.

F1 has rarely lasted more than a decade at venues in the U.S. over the last century; let's hope Austin breaks that curse.

COTA's media relations team did not immediately get back to Austonia for comment.


Thaïs Perkins opened Reverie Books in September at 5330 Menchaca Road. (Addie Broyles)

Reverie Books opened just in time.

Sure, the supply chain is out of whack and a global pandemic has been raging for 18 months, but bookstore owner Thaïs Perkins says a queer, feminist and social justice-centered store couldn't have happened without all the changes that the coronavirus pandemic brought and a chance run-in with a used bookstore owner who was ready to retire.

Keep Reading Show less

Austin leaders expressed their concerns after an anti-Semitic sign was hung over Mopac on Saturday. (Oren Segal/Twitter)

Shalom Austin and city leaders have vocalized concerns after an anti-Semitic banner reading "Vax the Jews" was placed over Mopac Saturday afternoon.

Keep Reading Show less

Cecilio Dominguez looks up to the crowd after shooting a goal that was made from bouncing off the Houston Dynamo goalkeeper. (Austin FC/Twitter)

Austin FC defeated its fellow Texas MLS team, Houston Dynamo FC, 2-1 on Sunday afternoon at Q2 Stadium, marking the club's eighth win of its inaugural season.

Keep Reading Show less