Bobby Epstein reflects on the creation of COTA, where it has been and where its going
When the Circuit of The Americas (COTA) held its inaugural Formula 1 race in 2012, it ushered in a new chapter in the world of motorsports. Not only did it see the return of F1 to the United States, it also raised the bar in terms of circuit design. The finished product was a 3.41-mile track ribbon of road draped over the terrain near Bergstrom Airport southeast of Austin. The racing community all recognized it for what it was: a new standard for racing venues. The man who is the motive force behind this endeavor is the Chairman and Co-founder of COTA, Bobby Epstein, a successful Austin businessman who was instrumental in putting the whole deal together, and has overseen its continuing evolution. The Fast Lane caught up with Epstein, and he offered some insights on the trajectory of the facility, what it has accomplished and where it is headed.
FAST LANE (FL):
Since opening, COTA has seen Formula 1 on a near vertical ascent, especially in the U.S. Did you envision that F1 would get this big in the American market?
Bobby Epstein (BE): “Our initial goal was to make the U.S. Grand Prix event as amazing as possible, something people wanted to come to for the sport, the entertainment, and time to be together. The fact the sport took off following this effort has been incredible to see.”
FL: Since 2012, COTA has evolved from a state-of-the-art racing venue to a multiuse sports/entertainment destination. What new attractions, features and events are in the pipeline? Is a casino part of the plan?
BE: “We’re very excited to open the T11 Car Condos and amusement park on COTA’S campus soon. Additionally, there are other expansion plans in the works. Check back with us at a later date for more!”
FL: The 2022 edition of the U.S. GP set a new record for attendance. What was the exact attendance number for all three days? Is it safe to say that F1 at COTA hosted the biggest sporting event in Texas? Where does it rank in terms of North American sporting events and international sporting events?
BE: “The record was set at 440,000 fans – and yes, COTA hosts the biggest sporting event in Texas and last year it was the biggest sporting event in the world.”
FL: The economic impact of the events held at COTA is substantial. What is that number, and how significant is this number to the local economy?
BE: “COTA contributes one-billion dollars in economic impact to the City of Austin and the state of Texas every year. The U.S. Grand Prix alone contributed $900-million from direct, indirect, and induced spending last year. A massive win for the hospitality, service, and tourism industry.
“What’s often overlooked is the global commercial broadcast F1 affords Texas. With over 100-million people watching, an audience bigger than the Super Bowl, and a full weekend of coverage for our city and state, this broadcast focuses global attention on Austin and Texas in a way that nothing could rival it except perhaps the Olympics.”
FL: How do you quantify the intangible benefits of the race to the Austin market, and how has it introduced the world of F1 and those entities involved in the sport to the business/lifestyle climate that Austin has to offer? What has the Chamber of
Commerce done to capitalize on this visibility?
BE: “One of the benefits has been the growth in businesses calling Texas home. Both during the F1 USGP weekend and year-round. It’s been great to see.”
FL: When F1 debuted in Austin, it was love at first sight, and since that time it has become a favorite stop on the schedule. What F1 venue do you look at and think to yourself “Now, that is a race!”?
BE: “I think COTA/USGP quickly became a standard for what races are supposed to be. When building this track and event, we looked at Australia’s GP, the British Silverstone GP, and the night race in Singapore for inspiration.”
FL: What has been the most challenging aspect of turning 400+ acres of land into a world-class venue? BE: “The most challenging part was at the beginning, trying to tell the story of why bringing F1 back to the U.S. was going to be beneficial to our region. There wasn’t anything to compare it to at the time.”
FL: What was the most rewarding aspect of working to construct such a world-class facility?
BE: “Now, the story tells itself – so many recognize the good of what comes from this event now and seeing people enjoy time with friends and family.
It’s the best feeling.”
FL: Formula 1 is one of the most pressurized environments in the world of sports. What do you do to relax?
BE: “Foot massage at Relax Day Spa on South Lamar in Austin.”
FL: What is your personal best time around the COTA race track? What was your ride?
BE: “I don’t remember the time, but it was in a rental car….”, Bobby Epstein laughed.
The next Formula 1 race at COTA will take place on October 20-22 of this year. In addition to the on-track action, the weekend will also feature concerts by The Killers on Friday and Queen+adam Lambert on Saturday.