Circuit of the Americas chief Bobby Epstein does expect an initial hit if the newly re-launched Miami GP goes ahead.
This week it was confirmed Formula 1 bosses had reached an ‘agreement in principle’ with the owner of the Miami Dolphins NFL franchise to host a race in the area surrounding their Hard Rock Stadium.
Should the event get the go-ahead from the local Miami-Dade County authorities that would see the first race held in 2021, meaning two Grand Prix’s in the USA for the first time since 1984.
“The first year will be painful after that, I think the pendulum swings,” Epstein told Racer of the likely impact.
“It’s very difficult to get a race off the ground, and it’s even harder to have longevity.
“You’re not going to be able to judge the success of a new race in the first year, the first year will always be gangbusters.
“It is hard to succeed but people won’t realize that until a few years in. It’s what happens in the third, fourth and fifth year, and whether someone’s going to have the staying power.
“One thing that everyone’s learned in this sport is you can lose massive amounts of money,
“Even we had our concerns after the second and third year. It’s nice to see that we’re established and made it through.”
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Indeed, since debuting in 2012, COTA has become one of the notable stops on the calendar and Epstein fully supports Liberty Media in going all out to increase F1’s presence in America.
“It’s terrific. It really is good to see how many people are returning [to Austin], too,” he commented. “I think that they are fans of the event.”
The Texan also pointed towards F1’s Drive to Survive documentary on Netflix in helping to boost interest.
“A good part of the delta of the growth is actually in people who watched the show, and they’re first time visitors,” he said.
“We have those that are hardcore fans of the sport, but that’s about half the people that come. The other half are ones who this is an event and festival for.”