Formula One revives US Grand Prix in Austin, Texas, in 2012 with track built just for it

Formula One revives U.S. Grand Prix in Texas

AUSTIN, Texas — Formula One racing is coming back to the United States in 2012 with a long-term deal to race in Austin on a track built specifically for the event.

Formula One and Texas state officials announced the agreement Tuesday, saying Austin would host the U.S. Grand Prix until 2021.

The race was dropped after an eight-year run at Indianapolis Motor Speedway from 2000-2007 with mixed results. The most notable blemish occurred in 2005 when 14 of 20 drivers pulled off the track just before the race started as a protest over concerns about tire safety.

Formula One president Bernie Ecclestone says the Austin race would mark the first time a course would be built specifically for an F1 race in the United States.