If you have watched the United States Grand Prix, a MotoGP race, or a NASCAR Cup weekend in recent years, you have almost certainly watched it happen at COTA — the Circuit of the Americas in Austin, Texas.
It is the most versatile major racing venue in North America, hosting Formula 1, MotoGP, NASCAR, the World Endurance Championship, and dozens of concerts and events year-round. But who actually owns it? The answer starts with a bond trader, a Texas billionaire, and one of the messiest legal fights in American motorsport history.
Who Owns COTA Right Now in 2026?
COTA is owned by Circuit of the Americas, LLC — a private company with no public shareholders and no corporate parent. The controlling force behind that entity is Bobby Epstein, who serves as Founder and Chairman and is the single most powerful individual in the venue’s ownership and governance.
Alongside him, a group of more than a dozen private equity investors hold stakes in the company, though exact percentages are not publicly disclosed.
The ownership structure has been deliberately kept private since the circuit opened in 2012.
What is confirmed is that Bobby Epstein runs it, Carlyle’s Global Credit platform entered into a strategic partnership in August 2026 to support COTA’s expansion — while explicitly stating the venue remains locally owned and operated and the ownership structure will not change as part of that arrangement.
Ownership and Key Stakeholders Table
| Owner / Party | Role | Stake | Key Detail |
|---|---|---|---|
| Circuit of the Americas, LLC | Legal Entity & Owner | 100% of COTA | Private LLC; no public shareholders; locally owned and operated |
| Bobby Epstein | Founder & Chairman | Controlling interest | Former bond trader; UT Austin alumnus; the driving force behind COTA since 2011 |
| Red McCombs | Original Co-Investor | Majority investor at founding | Texas billionaire and former San Antonio Spurs owner; was largest investor at launch |
| John Paul DeJoria | Private Equity Investor | Undisclosed | Co-founder of Paul Mitchell hair care and Patrón Spirits; joined as investor in 2012 |
| 12+ other private investors | Equity investors | Undisclosed individual stakes | Attracted by Epstein post-2012; specific identities and stakes not publicly disclosed |
| Tavo Hellmund | Original Founding Promoter | Exited in 2012–2014 | Former racing driver; originated the F1 deal with Bernie Ecclestone; bought out after dispute |
| Carlyle Global Credit Platform | Strategic Financial Partner | No equity ownership | Entered partnership August 2026; providing capital for expansion without changing ownership |
The Origin Story: A Bond Trader’s Big Bet
COTA did not begin with Bobby Epstein. It began with a former racing driver named Tavo Hellmund who had an idea and a connection.
Tavo Hellmund, an American who had competed in Formula 3 in the 1990s, secured a deal with Formula 1 commercial boss Bernie Ecclestone to bring the United States Grand Prix back to America from 2012 onward.
On July 27, 2010, he announced plans to build a brand-new circuit on about 890 acres of undeveloped land in southeastern Travis County near Austin, Texas.
Standing beside him was the project’s largest investor: Texas billionaire Red McCombs — the media mogul, car dealer, and former San Antonio Spurs owner who had long been one of the most recognizable names in Texas business.
Bobby Epstein joined shortly after. A Dallas-raised UT Austin alumnus, Epstein had built his career as a fixed-income analyst before founding Arbour Financial Corporation in 1992, a mortgage-backed securities specialist, and later Prophet Capital Management.
He came in as a majority investor alongside McCombs, and together the two put up the financial weight that made the project viable.
The initial partnership was Accelerator Holdings, formed by Hellmund, McCombs, and Epstein in July 2010. Ground broke on December 31, 2010. The track was designed by legendary German circuit architect Hermann Tilke — who has also designed circuits in Shanghai, Bahrain, Abu Dhabi, and Istanbul — with input from Hellmund and 1993 MotoGP World Champion Kevin Schwantz.
The Messy Falling-Out: How Hellmund Was Pushed Out
The path from announcement to opening was far from smooth. By 2011, the partnership between Hellmund, Epstein, and McCombs had fractured completely.
A dispute over the project’s management and financial direction came to a head when Epstein and McCombs struck a new deal directly with Ecclestone, renegotiating the F1 contract and effectively cutting Hellmund and his company Full Throttle Productions out of the event’s promotion.
In March 2012, Hellmund filed a lawsuit against Epstein, McCombs, and other associated companies, alleging they had willfully ignored the terms of their contracts.
Rather than endure a prolonged legal battle, Epstein and McCombs settled with Hellmund — for considerably less than the $18 million that had originally been discussed. Tavo Hellmund agreed to be bought out and by 2014 had exited the company entirely.
He later went on to bring Formula 1 back to Mexico City in 2015 — another landmark achievement in American motorsport.
With Hellmund out, Epstein took full control and immediately set about attracting new investors. Among those who came in was John Paul DeJoria — the billionaire co-founder of the Paul Mitchell hair care empire and the Patrón tequila brand — along with more than a dozen other private equity participants whose identities Epstein has largely kept out of the public record.
How COTA Got Built: $450 Million and Two Years
What Epstein and his team delivered in the timeline they delivered it in was remarkable by any standard. A purpose-built Grade 1 FIA racing circuit — the first ever built specifically for Formula 1 in the United States — was constructed in just two years. The total cost of the facility was approximately $450 million.
The track opened for its first test event in October 2012 and hosted its inaugural Formula 1 United States Grand Prix on November 18, 2012 — won by Lewis Hamilton.
The circuit design features 20 turns, a dramatic uphill blind entry into Turn 1 inspired by Istanbul Park’s Turn 8, an Esses section through Turns 3–9 inspired by the Maggotts-Becketts complex at Silverstone, and a stadium section that creates an extraordinary atmosphere for fans in the grandstands.
Total elevation change across the lap is 133 feet — unusual and challenging for a modern purpose-built circuit.
The Austin360 Amphitheater — an outdoor concert venue sitting within the circuit’s grounds — was built as part of the same development, reflecting Epstein’s vision from day one that COTA would be far more than a race track.
What Events Does COTA Host in 2026?
COTA has grown into arguably the most event-dense major racing venue in the United States. In 2026, its schedule includes the Formula 1 United States Grand Prix, the MotoGP United States Motorcycle Grand Prix (which returned to COTA after a brief break), the NASCAR Cup Series DuraMAX Texas Grand Prix (held on March 1, 2026, won by Tyler Reddick of 23XI Racing), and multiple rounds of the FIA World Endurance Championship and GT World Challenge America.
The Formula 1 contract at COTA runs through the end of 2026. Chairman Bobby Epstein has said he is “optimistic” about an extension and has “little doubt” the race will continue.
The United States Grand Prix has consistently been one of the highest-attendance single-weekend sporting events in the entire country, regularly attracting crowds of 130,000 to 150,000 across a race weekend.
The growth of F1 in America — driven significantly by the Netflix docuseries Drive to Survive — has sent attendance at COTA to record highs since 2021.
That same period saw the Cadillac Formula 1 Team enter the sport in 2026 as the first American manufacturer-backed F1 team in decades — read the full story of who owns Cadillac for the broader context of America’s growing role in the sport.
NASCAR has been at COTA every year since 2021 and confirmed its return for a sixth consecutive season in 2026. The race is promoted by Speedway Motorsports Inc. (SMI) — the same company that owns NASCAR tracks including Texas Motor Speedway — which rents the circuit from Epstein under a year-to-year contract.
The Carlyle Partnership: What It Means and What It Doesn’t
On August 24, 2026, COTA and Carlyle — one of the world’s largest global investment firms, traded on the NASDAQ under CG — announced a strategic partnership through Carlyle’s Global Credit platform. The deal provides COTA with capital to expand its year-round hospitality and entertainment offerings and grow beyond racing into broader destination experiences for Central Texas.
Crucially, the announcement was explicit that COTA remains locally owned and operated and that its ownership structure will not change as part of the partnership. Carlyle is not taking an equity stake in the company. It is providing credit — essentially structured financing — not buying into Circuit of the Americas, LLC. Bobby Epstein and the existing private investor group remain the owners.
This kind of credit-led growth partnership is increasingly common among major sports and entertainment venues looking to expand without diluting ownership. For a sense of how private equity has shaped major sports venue ownership more broadly, the story of who owns Fanatics and the complex investor structures behind major American sports businesses makes for an interesting parallel.
Frequently Asked Questions (FAQs)
Q1. Who owns COTA in 2026?
COTA is owned by Circuit of the Americas, LLC, with Bobby Epstein as Founder and Chairman controlling the company alongside a group of private investors.
Q2. Is COTA publicly traded?
No. Circuit of the Americas, LLC is a fully private company with no publicly traded shares and no corporate parent.
Q3. Who originally founded COTA?
Tavo Hellmund, a former racing driver, originated the project and secured the F1 deal with Bernie Ecclestone in 2010, with Red McCombs as the largest initial investor.
Q4. What happened to Tavo Hellmund?
Hellmund was bought out after a legal dispute with Epstein and McCombs in 2012, and fully exited COTA by 2014.
Q5. Did Carlyle buy COTA in 2026?
No. Carlyle’s Global Credit platform entered a strategic financing partnership in August 2026 to support expansion — but took no equity stake, and COTA’s ownership structure did not change.
Q6. Who is Bobby Epstein?
Bobby Epstein is a former Dallas-based bond trader and the Founder and Chairman of COTA. He joined the project in 2010–2011 and has controlled the venue ever since.
Q7. What major events does COTA host?
COTA hosts the Formula 1 United States Grand Prix, MotoGP United States Grand Prix, NASCAR Cup Series, WEC, and GT World Challenge America, plus concerts and entertainment events year-round.
Q8. Is the F1 contract at COTA being renewed?
The current Formula 1 contract runs through 2026. Chairman Bobby Epstein has expressed strong optimism about renewal and says he has “little doubt” the race will continue at COTA.
COTA is privately and locally owned by Circuit of the Americas, LLC, with Bobby Epstein as its Founder and Chairman and the controlling decision-maker. A group of more than a dozen private investors — including John Paul DeJoria and others whose identities are not fully disclosed — hold equity stakes.
Red McCombs was the original largest investor but has since stepped back from operational involvement. Tavo Hellmund, who originated the F1 deal and conceived the project, was bought out after a legal dispute and exited by 2014.
Carlyle’s Global Credit platform entered a strategic financing partnership with COTA in August 2026 to support expansion — without changing ownership.
The F1 contract runs through 2026 with strong expectation of renewal. And the track that was built in two years for $450 million on undeveloped Texas scrubland is now one of the most important motorsport venues in the world.
Official Website: circuitoftheamericas.com
