London, May 26(ANI): Formula One chief Bernie Ecclestone has hailed F1's return to the United States market after a 10-year deal was reached for a new purpose-built facility in Texas to host Grand Prix's from 2012.
Ecclestone said that it was a major commitment on the part of the Texas authorities, who had pledged to build the first ever dedicated F1 facility in the country.
"For the first time in the history of Formula One in the US, a world-class facility will be purpose-built to host the event," The Independent quoted Ecclestone, as saying.
"It was 30 years ago that the United States Grand Prix was last held on a purpose-built, permanent road course circuit in Watkins Glen, which enjoyed great success," he added.
The agreement marks the return of the world's grandest motor-racing tournament to the US after the 2000-2007 U.S. Grand Prix on the Indianapolis Motor Speedway. (ANI)