SBD/January 23, 2012/Facilities

Sitting Pretty: New F1 Track In Austin To Offer Personal Seat Licenses

PSLs are for all racing events at the Circuit of the Americas for the next 15 years

Legends Sales & Marketing has “agreed to a two-year deal to sell premium seats and PSLs for the new Formula One racetrack in Austin,” according to Don Muret of SPORTSBUSINESS JOURNAL. Legends must “fast-track a marketing campaign to sell 29 suites and seat licenses for 8,000 seats in the main grandstand by the start and finish lines.” The projected suite prices at the Circuit of the Americas (COTA) are “$100,000 to $200,000 annually for 24- and 30-seat units, and $1,000 to $5,000 for PSLs.” Legends Sales Division President Chad Estis said the “terms of the seat licenses have not been determined.”  Temporary suites will be “set up along the racetrack’s 20 turns, similar to the chalets set up at PGA Tour events.” Legends officials also believe the suites “will be a regional draw for companies from Dallas, Houston, San Antonio and Mexico City and Monterrey, Mexico, buying skyboxes for race weekends (SPORTSBUSINESS JOURNAL, 1/23 issue). In Austin, John Maher noted that COTA officials have said tickets for the race “will be available in early summer,” but fans “can go to the Circuit of the Americas website now to join the waiting list for seat licenses, which will go on sale March 1.” The PSLs are “for all racing events at the circuit for the next 15 years.” Maher also noted a license “does not include the price of tickets for those events,” and that the price for the PSL “varies according to the proximity to the finish line and the amenities offered.” Fans will be able “to join the waiting list for a seat license until Feb. 13” and a deposit “of $100 is required.” The PSL also "gives the holder priority position to buy tickets for entertainment events.” The circuit, which “will be able to hold 120,000 fans for the F1 race, will have a 5,000-seat amphitheater that will be used for concerts” (AUSTIN AMERICAN-STATESMAN, 1/22). In L.A., Jim Peltz reports prices of the actual grandstand seats, “along with prices for all seats and general admission to the race, will be announced later this year” (L.A. TIMES, 1/23).

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