By Anthony Caruso III | Publisher
The 2020 Formula 1 United States Grand Prix has been canceled. There will not be an event for this series at the Circuit of The Americas in Austin, Texas until 2021 at the earliest.
The event has been canceled due to the ongoing coronavirus pandemic. Formula One will not compete in the United States, Canada, Mexico, and Brazil.
The United States Grand Prix was scheduled in October 2020. The other events were the Mexican Grand Prix, Brazilian Grand Prix, and the Canadian Grand Prix.
“The cancellation is prudent, but painful,” COTA Chairman and Owner Bobby Epstein said. “After a sold out 2019, advance ticket sales deposits were up nearly 250 percent over the prior year, and our staff was preparing our biggest event ever. We had secured blockbuster performers for the evening shows, and the racing this year is fantastic. I’m disappointed for the fans, COTA employees, our community, and everyone in the Formula One Paddock, as I believe we all look forward to what has become a wonderful annual tradition.
“It is my hope that the pandemic will soon pass and we will celebrate 2021 with the greatest Formula One United States Grand Prix ever!”
According the Statesman, the Formula One race generated nearly $400 million in economy for the local area. Epstein said to the publication, it also had $880 million in direct, indirect and induced spending.
With this kind of money lost due to the race, it’ll be tough to recoup that money from other events. The loss of income for the venue has been impacted, as well, as they had to cancel other events, as well.
“We want to pay tribute to our incredible partners in the Americas and look forward to being back with them next season when they will once again be able to thrill millions of fans around the world,” Formula 1 Chairman and CEO Chase Carey.