F1 Extends US Grand Prix at COTA Through 2034, Cementing US Growth

Formula 1 has officially extended its agreement with the Circuit of The Americas (COTA) to host the United States Grand Prix until the 2034 season. This long-term commitment solidifies Austin's position as a cornerstone of F1's expanding presence in the US, with the event already generating billions in economic impact and attracting a rapidly growing fanbase.

Why it matters:

• The extension ensures F1's continued presence in a key market, building on significant fan growth and economic contributions.
• It underscores the sport's strategic focus on North America, now featuring three US races.
• The deal highlights the successful partnership between F1, COTA, and local authorities, creating a major sporting event with substantial local benefits.

The details:

• Long-Term Commitment: COTA will host the US Grand Prix for an additional decade, bringing its total tenure to 23 years since its debut in 2012.
• Economic Powerhouse: The US Grand Prix has delivered US$7 billion in economic impact to Austin and Texas over its first decade.
  • The 2023 event alone generated over US$1 billion in direct and indirect expenditure, contributing US$38 million in tax receipts for the state of Texas.
• Fan Growth: F1's US fanbase has reached approximately 52 million people, an 11% year-on-year increase.
  • A recent fan survey revealed that 47% of new US fans (following for five years or less) are aged 18-24, and over half are female, indicating a broadening demographic.
• Strategic US Expansion: The US Grand Prix at COTA is one of three F1 races in the United States, alongside events in Las Vegas and Miami, reflecting F1's aggressive push into the market.
• Broadcast Deal: This extension follows F1's recently confirmed US$750 million broadcast deal with Apple over five years, starting in 2026. Apple TV+ will air all practice, qualifying, sprint, and Grand Prix races, including F1 TV Premium access for subscribers.

The big picture:

Formula 1's leadership, including president and CEO Stefano Domenicali, emphasized the event's growing popularity and its role as a highlight for fans, drivers, and teams. COTA chairman Bobby Epstein noted that with this contract, COTA will surpass Watkins Glen as the longest-serving Formula 1 track in the United States, cementing its legacy. The unwavering commitment from both F1 and local stakeholders, including Governor Abbott, has been crucial in fostering the sport's development in Texas and beyond.

What's next:

The long-term agreement with COTA ensures stability and continued growth for F1 in the US market. With a diverse and expanding fanbase, coupled with a significant new broadcast deal, F1 is well-positioned to further entrench itself in American sports culture, making the US Grand Prix a continued fixture and economic engine for the region.