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COTA announced it had inked a five-year deal with F1 in February 2022. (MSI Images/Twitter)
In a year packed with near-constant noise at Austin's purpose-built Formula 1 racetrack, the uncertainty around Circuit of the Americas' newest F1 deal may seem to be forgotten.
But for dedicated fans, the four months of uncertainty following COTA's expired 10-year deal was more than just a blip on the global racing radar.
The track, which is host to the U.S. Grand Prix, NASCAR races, and more, announced that it had secured at least five more years with F1 in February.
Here are the exclusive details on inking the deal from COTA chairman Bobby Epstein himself.
Why the wait?
October on our minds. 🤔 pic.twitter.com/PXFwWChKgw
— Circuit of The Americas (@COTA) April 21, 2022
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.
According to Fort Worth Star-Telegram writer Mac Engel, however, the Major Events Reimbursements Program agrees to provide funding only "if Austin holds the only F1 race in the country."
And with a new Miami race debuting this year, past legal hiccups and the past ambiguous financial impact of the race, some COTA insiders worried that the global sport was 'F1 and Done' with the Austin track.
Epstein told Austonia that the state legislation was not involved in the latest agreement.
"There is no allocation from the state annual budget," Epstein said. "There is existing legislation in place that allows for tax dollars collected from out-of-state event attendees to be used to reimburse some event-related expenses. This legislation is not unique to F1 and is used to attract more than 100 events to our state each year."
Epstein said the delay was due to COVID delays rather than internal disputes.
"The timing was really a matter of 'papering' the agreement," Epstein said. " F1 management and legal teams were overwhelmed with COVID-related schedule shifting, earlier in the year."
Why is F1 committed to Austin?
BREAKING: The United States Grand Prix at @COTA remains on the calendar through to 2026! #USGP 🇺🇸 #F1pic.twitter.com/S85UDo9n8Z
— Formula 1 (@F1) February 18, 2022
Whether there were behind-the-curtains negotiations or not, Epstein said it's easy to see why F1 decided to ink the deal.
On multiple occasions, Epstein has asserted that the 2021 U.S. Grand Prix in October was the "largest sporting event in the world," and with an estimate of 400,000 people in attendance over the weekend, it was the biggest three-day race weekend in F1 history.
"The festive weekend has become a fan and competitors’ favorite destination event," Epstein told Austonia. "As the sport grows and tries new formats, they don’t want to lose what’s already working, and after last year, there was no way F1 could stop (nor did they want to stop) the momentum."
Epstein said the league would also hesitate to leave a track custom-built for them, complete with the necessary turns and elevation changes needed to highlight the prowess of F1's drivers and its signature open-wheeled vehicles.
And the event is a highlight for more than just its track, Epstein said.
"Austin is such a great host city, and an absolute highlight of the sport’s global tour," Epstein said. "With the campgrounds, the entertainment, and the themed villages, the grand prix at COTA takes on an unrivaled atmosphere. The COTA experience is much more like that of a historic, traditional Formula 1 track."
With past attractions, celebrity appearances and a carnival-like atmosphere—complete with the promise of luxury "car condos" and a rollercoaster-studded amusement park in the next few years—it seems like that atmosphere will be hard to beat for years to come.
The U.S. market: too crowded or a chance to grow?
The rumors are true… #LasVegasGP is officially in the cards! Huge thanks to @F1@LVCVA@LiveNation@GovSisolak@WynnLasVegas@MGMResortsIntl@CaesarsPalace and all of our partners. #LasVegas… it’s neon lights out, and away we go! #Vroompic.twitter.com/sHS4zLu3pF
— gregmaffei (@gregmaffei_) April 16, 2022
There's a new track in town—for the first time in over 30 years, a casino-side race in Las Vegas will join Miami and Austin as the third U.S. track in 2023.
But despite enjoying America's sole F1 presence for several years, Epstein doesn't view the two new events as competition.
"With a night race down the glamorous Vegas strip or a cosmopolitan spring race around the Hard Rock Stadium, Formula One is creating a diverse array of offerings," Epstein said. "Each event complements the other and offers vastly different experiences."
While Austin provides a star-studded, yet more accessible Austin-esque festival experience, Miami and Las Vegas will showcase the luxury side of the sport. And thanks to the success of Netflix F1 documentary series "Drive to Survive," the once-foreign sport is growing exponentially—and for F1 higher-ups, the previously untapped market is hard to ignore.
For Austin, that means thousands more are expected to keep making the U.S. Grand Prix weekend one of the biggest travel weekends of the year for Austin-Bergstrom International Airport and local businesses alike.
"With the Formula One audience skyrocketing in the United States, three events per year certainly won’t meet the demand," Epstein said. "And the event in Austin will continue to bring hundreds of millions of tourist dollars to our hotels, restaurants and shops."
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Popular
Austin has been in the national spotlight for more than extreme growth—the last two years have brought a handful of violent crimes, missing persons cases and shootings.
Some of the most heartbreaking cases have yet to be solved. Here's a small update on some ongoing, high-profile cases in Austin.
Moriah Wilson | Suspect still on the run
Star biker Moriah Wilson was found dead in her East Austin home.
Professional cyclist Moriah “Mo” Wilson’s alleged killer, Kaitlin Armstrong, is still on the run and was last spotted leaving LaGuardia Airport in New York City on May 14—three days before the Austin Police Department obtained a warrant for her arrest.
Wilson was shot to death in her home on May 11 just hours after she went swimming with fellow cyclist Colin Strickland, who Armstrong had previously dated. Strickland said it was never a secret that he dated 25-year-old Wilson and had “no indication” Armstrong would react violently, as she had been dating other people as well.
While Wilson’s family said they don’t believe she was romantically involved with anyone, the case is being investigated as a crime of passion.
Investigators believe Armstrong might be using her sister’s name, Christine Armstrong, in New York State. A $5,000 reward has been issued for information leading to her capture.
Timothy Perez | Missing since March 2022
"He said, 'Dad, come get me, I'm lost,'" Robert Perez told Austonia. "I said, 'Pull, over,' but he just hung up, and we were never able to get a hold of him."
The Austin Police Department found Timothy’s car—cold and with an empty tank—around 15 miles from his brother’s home at 4:30 a.m. the same morningTimothy was last spotted again that morning when Round Rock Police responded to a welfare check called in by St. William Catholic Church. RRPD photographed him, said Timothy refused to identify himself and left without incident; Timothy wasn’t reported missing until a few days later.
According to EquuSearch, Timothy’s phone pinged briefly in Conroe on March 16 but hasn’t been located since. RRPD officials said they believe Timothy is voluntarily missing based on his interaction with officers.
But his parents think Timothy might've suffered a nervous breakdown and still drive from Conroe to Austin every few days to look for their son.
Due to the sighting at the church, APD closed its missing person case on April 8 but Round Rock Police still lists Timothy as missing.Jason Landry | Missing since December 2020
More than 31,000 acres were combed through to find missing Texas State student Jason Landry. (Caldwell County Sheriff's Office)
Texas State University student Jason Landry went missing on Dec. 13, 2020, after his car was found abandoned in Luling as he was driving home from nearby San Marcos to Missouri City, Texas, for winter break.
Landry’s car was found crashed with keys still in the ignition and all of his personal possessions, including his clothing, some with drops of blood, and phone, but no one in sight.
As conspiracies have swirled around the internet about what might've happened that night, Capt. Jeff Ferry, who is the lead investigator on the case, said "no doubt this is a tragedy… but it’s not a crime.”
More than a year later, friends and family of Landry are still searching for him and have erected billboards reminding locals of his disappearance and offering a $10,000 reward: one going southbound on I-35 and another along U.S. Hwy. 183 north of Luling.
The billboards were leased for 13 weeks in April but they may extend the rental—meanwhile, the case is in the hands of the Texas Attorney General Cold Case and Missing Persons unit. Anyone with information is asked to call (512) 936-0742.
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(SpaceX/Twitter)
Elon Musk’s spacecraft and rocket company SpaceX could be moving into Central Texas with an industrial facility in Bastrop County.
The Austin Business Journal first reported on SpaceX acquiring 170 acres east of Austin and job listings in the Austin area.
Bastrop County property records show that an entity tied to the Boring Company purchased the land near what it already owned along FM 1209. Then in early June, a 46.5-acre tract was transferred from the Boring Company’s entity to SpaceX.
In a June 6 filing with the Texas Commission on Environmental Quality, SpaceX gave notice for "Project Echo," a nearly 30-acre warehouse at 816 FM 1209. The project, just a 20-minute drive from Tesla's Giga Texas factory, was authorized to start construction early this month and has an estimated completion at the end of March 2023.
Meanwhile, the SpaceX jobs are for a facilities engineer and a senior application software engineer. The facilities engineer would be tasked with enabling SpaceX to achieve its long-term mission while the software engineer position would create systems to enable rapid build and reuse of the Starship—a reusable rocket the company is developing to carry cargo and people to space—as well as designing manufacturing software that will be used for Starlink, the company’s network of satellites providing internet access.
SpaceX has a site in South Texas along with a rocket testing facility an hour and a half drive north of Austin, in McGregor. Last year, job postings indicated SpaceX's plans for an Austin factory.
This brings an expansion of Musk’s companies in the region, with Tesla’s headquarters in southeast Travis County and the Boring Company based in Pflugerville.
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