Formula 1 is returning to the United States – and let us pause here to say woo-hoo! – and a lot of people wonder why Formula One Management chose Austin, Texas.

Actually, Austin makes perfect sense.

The United States Grand Prix has been hosted by everyone from Long Beach to Indianapolis, but New York is its historical home. The Empire State hosted the race from 1961 until 1980. New York put together a solid bid to host the race when it returns to the U.S. in 2012, but in the end F1M, which manages and licenses the sport, chose Texas. Austin, its capital, will host the United States Grand Prix from 2012 through 2020.

Matt Hardigee of Jalopnik has written a detailed account of how and why New York "got screwed," as he put it. In a nutshell, Hardigee argues that as recently as May 5 it appeared F1 was returning to New York. He also notes that Bernie Ecclestone – the *capo di tutti capi *of F1 – and famed track designer Herman Tilke had visited Monticello Motor Club and hoped to stage a race there.

We'd argue that New York wasn't screwed and it's clear why F1 would choose Austin.

First and foremost, Ecclestone's first, second and third considerations are the best interests – read, money – of Formula One Management. By Hardigee's own (excellent) reporting, Texas was a bigger payday. What's more, everyone from the governor and state comptroller on down is behind the project. That will help grease the skids as Texas scrambles to build a track.

Speaking of the track, Ecclestone gets a facility designed and built specifically for F1, one some experts tell the Austin American-Statesman could cost as much as $250 million. Had F1 returned to New York, it probably would have run at Watkins Glen or Monticello – two excellent tracks, to be sure, but not the modern operations Ecclestone has come to expect (and receive) from new grands prix hosts.

“For the first time in the history of Formula One in the United States, a world-class facility will be purpose-built to host the event," Ecclestone said in a statement. Of course, it remains to be seen how Austin will get a track together in time for the 2012 season, so Ecclestone may wish he had gone with an existing track. But that's a whole 'nother story.

Another advantage Austin has is the audience. Ecclestone has made a push to expand F1 into new markets – China, Abu Dhabi and, beginning next year, Korea and India – and new audiences. He accomplishes this in Texas, a point F1M makes when it says Austin is "perfectly located geographically for North, South and Central American visitors." On the other hand, going to New York would mean sharing a market, and essentially the same audience, with the Canadian GP.

This wasn't a matter of New York being screwed, it was a matter of Austin making more sense for Formula 1 Management and, ultimately, the sport. And at the end of the day, the only thing that really matters is F1 returning to the United States.

UPDATED 12:30 p.m. May 28 to correct the spelling of Ecclestone's name. D'oh!

Photo: Renault. Robert Kubica in the Renault R30 on May 13, 2010 during practice for the Monaco Grand Prix.