Thursday, September 18, 2025

Formula 1 race is on after all; Mexico City to sign 3-year contract

The Formula 1 Grand Prix auto race is on again in Mexico City after an agreement was reached for another three years that won’t require any additional investment by the government.

Mayor Claudia Shienbaum had said that the 800 million pesos (US $42 million) necessary to keep Mexico in the Formula 1 races over the next five years would go instead to the Maya Train project, although talks over alternative funding for the event continued.

After months of uncertainty, Sheinbaum announced with a Twitter video today that Formula 1 president Jean Todt will visit the capital tomorrow to sign an agreement ensuring the continuation of the auto races in Mexico City through 2022.

Until now, it had appeared that the race would be history.

She said that a group of business owners had agreed to take on the financial responsibility, relieving the city government of the burden.

“I would like to let you know that this was made possible thanks to a group of entrepreneurs, because on this occasion the city [government] is not investing any public funds. This is good news for the city and for the country; [the races] bring tourism and economic benefits.”

According to statistics provided by the previous administration, the Grand Prix was the country’s most economically significant sporting event in 2017: that year, the race generated a total of 14.8 billion pesos (US $778.2 million) in economic spillover.

Source: Milenio (sp)

Have something to say? Paid Subscribers get all access to make & read comments.
Brown men walk through the US-Mexico border in Nogales

Survey: Over 40% of recent Mexican deportees lived in the US for more than a decade

2
Whiie the survey was small and focused on Arizona deportees, its findings hint at how recent deportations are affecting long-term US residents and their communities.
flooded neighborhood

Oaxaca town asks to relocate as rising sea levels flood homes and schools

0
“What we need is no longer visits or photo ops, but a real solution,” one resident said.
Diputada Brown

Mexico freezes funds of Morena lawmaker and others targeted by US sanctions

2
In what might be viewed as a case of binational cooperation, the U.S. designated 20 entities as drug traffickers then Mexico promptly froze their assets.
BETA Version - Powered by Perplexity