F1 makes major United States Grand Prix announcement just before Austin race

The United States Grand Prix is set to remain a fixture on the Formula 1 calendar for at least another decade, following the confirmation of a contract extension. This new agreement ensures that F1 will continue its annual visit to the Circuit of the Americas in Austin, Texas, until the end of the 2034 season.

The sport first graced the track, affectionately known as COTA, in 2012 - not long after the infamous 2005 US Grand Prix at the Indianapolis Speedway, where only six cars participated due to tyre safety concerns, causing a farcical spectacle.

At the time, F1 was already struggling to captivate the American audience, and this ludicrous incident further tarnished the sport's reputation stateside. However, the COTA track, located on the fringes of the bustling city of Austin, has since become a firm favourite among fans, ever since F1 cars first raced there over a decade ago.

Now, it's been confirmed that this event is here to stay for the foreseeable future. "Since 2012 the United States Grand Prix has continued to grow in strength and popularity, and I want to thank the City of Austin and Travis County for hosting us," said F1 chief executive Stefano Domenicali.

"Each year, the event at the Circuit of the Americas stands out as a true highlight for fans, drivers, and teams alike, drawing hundreds of thousands of passionate supporters who come to witness the thrilling on-track action and soak up the vibrant energy of the circuit and the city.

"As Formula 1 continues to grow and thrive in the United States, we are proud to extend our partnership with Bobby Epstein and his outstanding team in Austin, as well as with Governor Abbott, whose leadership has been instrumental in supporting the sport's development in Texas and beyond.

"Both have shown unwavering commitment to F1, and their shared vision and investment have played a vital role in establishing the strong foundation we now enjoy in the U.S."

The COTA event has emerged as one of the most popular on the F1 schedule, drawing an average four-day crowd of 430,000 in recent seasons. Spectators who have travelled to Texas over the years have witnessed Lewis Hamilton claim victory on five occasions while, last year, his Ferrari colleague Charles Leclerc secured the triumph.

F1 has poured substantial resources into expanding its American market presence since Liberty Media acquired the commercial rights to the championship in late-2016. F1 says it currently boasts 52 million supporters across the nation, marking an 11 percent rise year-on-year - highlighting the rapid pace of F1's expansion.

F1 aims to accelerate that development even further via its fresh broadcasting agreement with Apple TV, revealed earlier this week. A five-year contract has been finalised which will see Apple's subscription platform acquire the rights from Disney-owned ESPN, having committed to paying F1 more than £110million per year for the privilege - nearly double the sum ESPN was contributing annually.