Apr.13 (GMM) The venue for next year's inaugural US grand prix in Texas has been officially named 'Circuit of the Americas'.

The news was announced at the same time as a MotoGP event for 2013 was added to the new Austin track's calendar.

"We are building a destination for entertainment and business, not simply a race track, and this brand reflects that entire idea," said promoter Tavo Hellmund in a press conference.

The $250 million facility is currently under construction and scheduled for completion in mid-2012.

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