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Formula One
F1: Formula One Like A Super Bowl Says McCombs
The track hosting the 2012 US Grand Prix will be located on a 900-acre site in southeast Austin, Texas...
SPEED Staff / GMM  |  Posted July 27, 2010   GMM Newswire
Formula One is coming to Austin, Texas, in 2012. (Photo: LAT Photographic)
Red McCombs says that bringing Formula One to Austin, Texas, in 2012 could be compared with the city hosting the Super Bowl.

McCombs Partners, owned by the Texan businessman and sporting legend, was confirmed Tuesday as the main investor behind the project, which is led by Tavo Hellmund.

“Bringing Formula One back to the United States represents the opportunity of a lifetime and one that any city in the world would want,” said McCombs in a statement. “The size and scope of an F1 event is comparable to hosting a Super Bowl and will bring substantial economic benefit to Austin, San Antonio and the entire State of Texas.

“We know Tavo has a clear vision for developing Formula One into a major event with year-round opportunities. Over the past few years, he has built a solid business foundation and has assembled a great team – one we are proud to be part of. We are ready to roll up our sleeves and work alongside Tavo to make this project a huge success.”

Hellmund added: “This project has been a tremendous undertaking. But for at least the next decade, Texas will host a global sporting event on an annual basis in a new world-class multipurpose facility. Knowing that our hard work is being rewarded and that my dream is becoming a reality is extremely gratifying. It is a great honor to have Red McCombs and McCombs Partners as our primary investor and partner. Red’s success in business and the professional sports arena is legendary. Working together as a team and under Red’s direction, we will ensure that this project will make all Texans very proud and will benefit our great State.”
US GP promoter Tavo Hellmund (Pictured) calls in to discuss the return of Formula One to the United States with SPEED's Bob Varsha. (Image: SPEED)

Also involved are Prophet Capital Management, an Austin-based investment company, and Hellmund’s close friend, former two-wheel star Kevin Schwantz.

It has now been confirmed that he track will be located on a 900-acre site in southeast Austin along the SH 130 corridor near FM 812. Close to the airport, it was formerly a proposed housing development called Wandering Creek.

Adam Cooper notched up his 25th season as a racing journalist in 2009. Born in London, England, he saw his first F1 race at age 10 in 1976. He began freelancing for Autosport magazine in 1985 and was on the fulltime staff from 1987-92. He then went freelance again, initially spending two years in Japan before following the 1994 Champcar series from a base in Indianapolis. He has not missed a Grand Prix since Suzuka ‘94, a run that has extended to Abu Dhabi ’09. Adam has written books about Eddie Irvine, Piers Courage and Michael Schumacher and hosts a race preview show on Sirius XM. He has written about F1 for SPEEDtv.com since 2005. Check out Adam's Blog or follow him on Twitter

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