Formula One revives U.S. Grand Prix in 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.