Formula One and organizers of the Mexican Grand Prix in Mexico City announced on Thursday that they have extended the contract which will see the Mexican Grand Prix remain on the Formula One schedule until at least the end of the 2022 season.

Question were raised over the events future in recent months as their contract was due to end after this years race however following further financial investment it has now been extended. Mexico returned to the Formula One calendar in 2015 with help from Mexican billionaire Carlos Slim and speaking about the new deal, Chairman and CEO of Formula One Chase Carey said:

We are pleased to have renewed our partnership with Mexico City, which will now host the Formula 1 Mexican Grand Prix until at least 2022. Ever since it returned to the championship calendar in 2015, this event has always proved to be amazingly popular with the public and fans, not just in Mexico, but also around the world. Proof of this is the fact that the race promoter has won the FIA award for the best event no fewer than four years in a row and, in those four years, over 1.3 million spectators have attended the Grand Prix. The Grand Prix has also been an important economic driver for the city, reinforcing its credentials as a centre for tourism. I would like to thank the Mayor, Claudia Sheinbaum Pardo and the entire government of Mexico City for all their efforts in ensuring that Formula 1 continues in Mexico and I look forward to seeing another big crowd of fans at the Autodromo Hermanos Rodriguez from 25 to 27 October for the Formula 1 Gran Premio de Mexico 2019.

Claudia Sheinbaum Pardo, Mayor of Mexico City said:

“The presence of Formula 1 in the city for further three more years, was achieved for the first time through a new financing model in which public resources are not used. Previously the Federal Government collaborated with the payment for the event. The Mexico City government will be an intermediary, creating a trust that will raise the private investment required to deliver this international event. The price of the tickets will remain the same as in previous years.”

CIE (Corporacion Interamericana de Entretenimiento) who promote the event are delighted with the new deal with their President and CEO, Alejandro Soberon said:

“I want to deeply thank Dr. Claudia Sheinbaum and the Government of Mexico City for the vote of confidence they have entrusted in us. At CIE, we remain committed to promoting and operating the highest quality events in the world. Through this international platform, we have the opportunity to showcase the diverse cultural wealth of this fantastic city. We look forward to welcoming the thousands of tourists, both domestic and foreign to this award-winning event. In addition, I want to thank the Formula 1 fans both in Mexico and abroad – without a doubt, your energy and passion has made our Grand Prix a very unique and special experience.”

The 2019 Mexican Grand Prix takes place from 25-27 October.

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