BREAKING: Formula 1 Coming To Austin

The U.S. Grand Prix is back. Austin, Texas will serve as the host city of the Formula 1 United States Grand Prix from 2012 through 2021 in a purpose-built facility.

News of the U.S. Grand Prix coming to Austin, Texas is a surprise to anyone following F1 and its attempt to find a racing home in the United States after a three-year absence. There's no race course in the Austin area up to specs, so one will be purpose-built just for Formula One.

Bernie Ecclestone, President and CEO of the Formula One Group, had this to say:

"For the first time in the history of Formula One in the United States, a world-class facility will be purpose-built to host the event. It was thirty years ago that the Formula 1 United States Grand Prix™ was last held on a purpose-built permanent road course circuit in Watkins Glen, NY (1961-1980), which enjoyed great success. Since then, Formula One has been hosted by Long Beach, Las Vegas, Detroit, Dallas and Phoenix all on temporary street circuits. Indianapolis joined the ranks of host cities in 2000 when they added a road course inside the famed oval. Lewis Hamilton won the last Formula 1 United States Grand Prix™ in 2007, signalling the end to eight years at Indianapolis Motor Speedway. This however, will be the first time a facility is constructed from the ground up specifically for Formula One in the US."

[Source: Formula One]