That things happen fast in Formula One is a given. But just how fast things can turn around is also liable to twist your head around at breakneck speeds.

While the United States has not hosted a Formula One grand prix since 2007, within two years' time it will once again host two. The first we already know about: the United States Grand Prix will join the calendar next season in Austin, Texas (of all places) at the purpose-built Circuit of the Americas. But after much anticipation, officials today announced a second grand prix to be held here in the U.S. along the banks of the Hudson River.

The race, officially to be known as the Grand Prix of America, will be held on a new 3.2-mile street course being carved out of the New Jersey towns of West New York and Weehawken, offering the New York skyline as a panoramic backdrop. The grand prix is currently scheduled for June 2013, when it is expected to draw upwards of 100,000 race fans.