The 2016 U.S. Grand Prix F1 Race Will Happen After All (Update: Confirmed)

Illustration for article titled The 2016 U.S. Grand Prix F1 Race Will Happen After All (Update: Confirmed)

Austin’s Circuit of the Americas will announce tomorrow that the 2016 Formula One United States Grand Prix will go on as planned, reports the Associated Press. This report follows months of speculation as to whether financial issues with the race could force it off the F1 calendar for 2016. UPDATE: It’s officially happening.

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A Wednesday news conference has been scheduled by the track for an important United States Grand Prix-related announcement, however, no further details were given in the invitation.

According to a government employee with direct knowledge of the conversations regarding the event, track representatives told local officials that the announcement confirming the 2016 grand prix will be announced then. The employee leaked the information to the AP on condition of anonymity.

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The race has been listed as subject to confirmation on the Formula One schedule following a string of financial issues that many suspected could derail or cancel the 2016 race. COTA chairman Bobby Epstein described last year’s United States Grand Prix as “financially devastating” due to the race’s low turnout. The facility is also still making repairs to storm and flood damage sustained last fall.

On top of that, the state of Texas unexpectedly cut its contribution towards the United States Grand Prix’s sanctioning fees by $5.5 million.

However, a recent settlement with the Travis Central Appraisal District to lower the valuation of the track for tax purposes is estimated to save COTA $13 million in taxes. Between that and other cost-cutting efforts at the track, it appears as though COTA has made the finances work to continue hosting the only F1 race in America.

The 2016 United States Grand Prix is planned for Oct. 23.

Update 3/9: COTA this morning officially confirmed the race will happen. Also, Taylor Swift will headline the concert after the show.

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You can’t cancel once T-Swift is locked in.

Photo credit: Getty Images


Contact the author at stef.schrader@jalopnik.com.

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DISCUSSION

It’s been a while since I’ve attended an USGP (‘01-’03)....

I’m seriously considering attending the Oct. Austin F1 Race this year...

Currently I’m early on in the process of comparing Package Deals (Hotel and Race Tickets), or securing my own Hotel, 3 Day Passes, Parking Passes(Do these come with race tickets?), Airfare, and Rental Car...It appears cheaper if I purchase my own tickets and make my own reservations for Hotel, Airfare and Rental Car, but not sure, any tips greatly appreciated.

I’m looking at Grandstand Tickets near either Turn 1 or Turn 15....Not cheap to me, and I’m not sure if the Grandstand Tickets\View are worth the premium price compared to General Admission Grass Berm tickets? I know when my Brother and I went to Indy, we walked around a lot, getting different viewing experiences all over the track, sure we sat in our seats for a bit during the Start but....

Anyone here attend a F1 race @ COTA, Any helpful advise appreciated.

Never been to Tx, whats the area like around the track?

Also interested in the Mexico F1 Race, I love the Stadium portion of that Track? I wonder how much more expensive a trip to see the F1 race in Mexico would be compared to Austin? Or would the travel be more involved\costly for Mexico?

Any advice appreciated...