A Saudi-Arabian backed group of entrepreneurs wants to bring the Grand Prix to Cancún, Quintana Roo, and hopes to tie up a five-year deal.
The Mexican investors — alongside five foreign investors — plan to present a letter of intent at the Mexican Grand Prix on November 6-7. It will be addressed to Jean Todt, president of the Fédération Internationale de l’Automobile (FIA), and Stefano Domenicali, the CEO of Formula 1 (F1).
LP gas magnate Tomás Zaragoza of Zeta Gas and Eduardo Orozco, president of restaurants Wendy’s México and Applebees, are leading the investors.
Senator Antonio Garibay, the father of F1 driver Sergio “Checo” Pérez, said he met last weekend in Austin, Texas, with Todt to see the details of the new circuit. He added that, if approved, construction would begin in a matter of months.
The newspaper Reforma speculated that the events could be hosted in the 2025-2030 seasons. The newspaper also said the group would not look to stage the event early in the season, in order to avoid any clash with the Mexican Grand Prix in Mexico City.
With reports from Reforma
