Mexico City Inks New Deal with Formula 1 for Continued Racing

Exciting news for motorsports enthusiasts! Mexico City’s head of government, Clara Brugada, has announced that the city is on the verge of renewing its Formula 1 race contract. During a press conference on April 24th, Brugada revealed that an agreement with F1 will be signed in the coming days.

Race to Remain on Calendar Until 2028

The new deal is expected to keep the race on the calendar until the end of 2028, with a three-year extension similar to the previous agreements. Despite losing federal government support in 2018, the race will continue to be privately funded.

In 2018, then-President Andrés Manuel López Obrador withdrew funding for the race, leading businesspeople to form a private trust. The government of Mexico City ensured it could maintain a relationship with F1 to keep the round on the calendar. After an initial five-year contract, the race was renewed in 2019 on a three-year basis and extended again until 2025.

CIE, the event’s promoter company, has not disclosed the details of the arrangement but suggestions are that it had been prepared for renewal since last year, even with the departure of Mexican driver Sergio Perez from the grid. The race’s future was once thought to hinge on Perez’s involvement in the championship due to his popularity, but evidently, the desire for the race remains without him.

The strategy of diversifying ticket sales in Mexico and abroad has allowed CIE to create a solid fan base that does not rely solely on the presence of a local driver. Perez was released from his Red Bull contract at the end of 2024 after two seasons marked by poor results and an inability to match Max Verstappen, despite an initially promising start to 2023. The Guadalajara-born driver has been linked with a potential return to the championship with Cadillac, but is currently taking time out from racing to consider his future.