ESPN Writer on Formula 1: "Believe it when you see it"

Tuesday morning, Formula 1 United States announced the details behind the project to bring the sport to Austin in 2012. Red McCombs, a multimillionaire businessman who has owned such sports teams as the San Antonio Spurs and Minnesota Vikings, was revealed as the primary backer of the racing project, and Austin native Tavo Hellmund, a former racecar driver himself, will be the managing partner of Full Throttle Productions LP.

But despite the exciting announcement, ESPN Magazine writer Ryan McGee says he "won't be a believer until [he] actually see[s] a green flag wave." Why the doubts?

McGee says this is just the latest in a string of plans to bring Formula 1 to the U.S., and if history is any guide, it will wind up as just another press release in his files. Writing Tuesday evening, McGee says:

On Monday, when the Austin news conference was announced, I realized that I am not alone in my eyebrow-raising. Within minutes my Twitter account was crackling with correspondence from colleagues throughout the motorsports media centers. We collectively shuddered as we recounted the long list of phantom launches we've had to endure.

What do you think? Will Formula 1 racing finally get past the starting line once again in the United States?