AUSTIN (KXAN) - The 2012 Formula 1 US Grand Prix was named "Sports Event of the Year" at the SportsBusiness Journal and Sports Business Daily awards ceremony.
The race held at the Circuit of the Americas was up for the award against the 2012 Ryder Cup, 2012 Stanley Cup Finals and the U.S. Olympic swimming trials.
The awards were announced May 22 in New York City at an event near Times Square.
COTA hosted the event last November at the new $400 million complex which opened just days before its first multi-day, international event.
"From the very beginning, there was some doubt whether our project would happen, but we hustled and we had a great team and a great group of owners behind us the whole way," Circuit president and chief executive officer Steve Sexton said.
"We embarked on a nine-month journey, pulled the construction together, pulled the race off amidst a lot of complicated logistics, and had a great group of fans," he added. "I'm really proud of the team that pulled this off."
Austin mayor Lee Leffingwell echoed the sentiments, congratulating Sexton and his staff for pulling off the large-scale event amidst speculation and a tight deadline.
"Your team did an outstanding job in pulling the Grand Prix together, sometimes against difficult odds," Leffingwell told Sexton. "It makes us all proud to see others acknowledge your accomplishments as well."
Launched in 2008, the Sports Business Awards were established to celebrate and recognize the day-to-day practitioners, leaders and visionaries who personify excellence in the business of sports.
The 2013 F1 USGP will be held Nov. 15-17 at the Circuit of the Americas.
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