USGP confident of new deal with F1

rechte stuk in austin — Photo: © LAT Images

United States Grand Prix

USGP confident of new deal with F1

Ten-year agreement expires this weekend

Ian Parkes

Friday 22 October 2021 17:48

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United States Grand Prix CEO Bobby Epstein is confident his race will remain on the F1 calendar "for a long time" despite the expiry of its current 10-year contract this weekend.

Sunday's race at the Circuit of the Americas is the last of a deal that started in 2012 when F1 welcomed the United States back into the fold after a five-year absence.

While no announcement has been made with regard to an extension, GPFans Global understands the race does have a long-term future.

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Speaking to this writer in an article for The New York Times, Epstein said: “We’ve proven this is an event that now has tradition, is something you can’t buy, and it takes years to establish.

"When you find a formula that works, you don’t want to lose that. Anything that would stop the momentum of that would be potentially irreversibly detrimental.

"Given that we start with that as a point of agreement, I’m fairly optimistic this will continue for a long time.”

After being forced off the calendar last year due to the Covid pandemic, Epstein has revealed that the Austin circuit saw its revenues cut by 96 per cent.

“We couldn’t have had a lower low than the spring of 2020 when we had to lay off so many of our staff,” added Epstein. “That makes this year feel all that much more exciting.”

Netflix 'Drive to Survive' impact

The event is back this year bigger and better than ever, with a record 360,000 crowd expected over the three days, with the on-track action matched by a host of attractions around the track.

"Millions have been invested in the infrastructure", according to Epstein, including new permanent and temporary grandstands.

“We’ve certainly seen the demand for tickets is there,” said Epstein. “We could have probably sold another 100,000 above what we have sold this year.

“The improvements have allowed us to increase the number of tickets we have been able to sell and, in turn, greatly increase our budget for entertainment at the event."

The Netflix series 'Drive to Survive' has also "had a massive impact", claims Epstein, who said: “Where we see repeat buyers, we now see a greater number of tickets purchased per transaction, which indicates to us more of the family is coming.

“Simultaneously, the number of new ticket buyers and new enquiries is what has propelled us from prior attendance levels to this new stratosphere.

"That’s the Netflix effect of bringing in new people.”