The Formula 1 circus will return to America in Austin, Texas, on a purpose-built road circuit says the official web site of F1.

Formula One World Championship Limited and Formula One Administration Limited (together, the F1 Commercial Rights Holder) and Full Throttle Productions, LP, promoter of the Formula 1 United States Grand Prix , announce that a historic agreement has been reached for Austin, Texas to serve as the host city of the Formula 1 United States Grand Prix for years 2012 through 2021.

Tavo Hellmund is the Managing Partner of Full Throttle Productions, LP.

The news of the U.S. Grand Prix coming to Austin is a major surprise to anyone following F1 and its attempt to find a racing home in the United States after a three-year absence.

There's no road course in the Austin area, so one will be purpose-built just for Formula One.

“This will be the first time a facility is constructed from the ground up specifically for Formula One in the U.S.,” said Bernie Ecclestone, President and CEO of the Formula One Group.

Is this really serious or what?