Texas secures 10-year MotoGP deal

The circuit, currently under construction, will also be hosting a Formula 1 grand prix from the 2012 season.

Organisers also announced on Tuesday that the track will be known as Circuit of the Americas.

The agreement with Dorna includes the three categories of the championship.

"We are delighted to be adding the Circuit of the Americas to the MotoGP calendar," said Dorna boss Carmelo Ezpeleta. "It is an honor to expand our Championship to Texas, which has a rich history of producing World Championship riders.

"We have had a wonderful and special relationship with Kevin Schwantz for twenty years and often talked about a mutual dream of increasing the popularity of MotoGP in the US and raising our already successful worldwide profile.

"Now, with what Tavo Hellmund is doing in Austin, we have realized that situation and are looking forward to this new venture together. The 10-year agreement is a sign of our confidence and commitment to the future success of MotoGP racing in Austin."

The United States currently hosts two MotoGP events in Indianapolis and Laguna Seca.

Former world champion Kevin Schwantz, the manager of 3FourTexas MGP, added: "For me this is a dream come true, that the FIM MotoGP World Championship will be in my home state of Texas. I am such a believer in the sport and know how popular motorcycling is in Texas. I am sure that this will be a resounding long term success."

Organisers said construction of circuit is progressing well and is scheduled for completion sometime in mid 2012.