Categories: 2016 SeasonF1 News, Reports and Race Results

US GP in Austin back on track?

The US GP in Austin may soon have its 'subject to confirmation' status finally removed from the 2016 Formula 1 calendar.

Organizers of the American race scheduled for October 23 at the Circuit of the Americas in Texas will be hosting a news conference today where it is expected the race will be confirmed, although no details have emerged.

The event ran into to financial trouble at the end of last year as it was hit by a double whammy. For starters, the 2015 race was washed out by horrendous weather which severely impacted revenue.

But shortly later, Texas announced that subsidies fed to event's promoters would be scaled back to around $ 19.5 million from $ 25 million, a decision which put the US GP in jeopardy.

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.

Since last December, Bernie Ecclestone has said repeatedly that he is confident COTA can make its finances work, and that he expected the race to eventually go ahead.

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.