MEXICO CITY – Mexico City’s mayor has said that this year’s Formula One will be hosted in the capital thanks to funding from a group of entrepreneurs.
Claudia Sheinbaum announced on Wednesday that the international racing event has found a private source of investment after a lack of public funds.
She said in a video posted to her Twitter account that Jean Todt, president of the International Automobile Federation, is due to sign a contract on Thursday.
“Formula One stays in Mexico City,” she added.
“This comes thanks to a group of businessmen who made this possible because... the city is not going to invest any public resources.”
The Autodromo Hermanos Rodriguez circuit has hosted the Mexican Grand Prix over three periods.
The first time the circuit was used by the Mexican GP was at the first Mexican GP in 1963.
This lasted until 1970 when the Mexican GP was called off.
The second tenure for F1 races in Mexico ran from 1986 until 1992, again at the Autodromo Hermanos Rodriguez circuit.
In its third period, the Mexican GP was welcomed again onto the calendar of the elite automotive racing competition in 2015.
“It’s good news for the city, it brings tourism, it brings income, and also for the country,” Sheinbaum added in the video, which showed her speaking on the platform of a metro station.
This year’s Mexican GP will take place from Oct. 25-27 and will be the 18th race in the 21-race season.
The Autodromo Hermanos Rodriguez circuit is 4,304 meters and there will be 71-laps in the race.
The defending champion Lewis Hamilton is currently the overall standings leader with 250 points.
The Mercedes’ British driver has won eight out of 12 races so far and finished second on two other occasions, fifth and ninth once apiece.
His Finnish teammate Valtteri Bottas is second with 188 points and Red Bull’s Dutch racer Max Verstappen holds the third spot with 181 points.
Ferrari’s drivers, Sebastian Vettel and Charles Leclerc, are fourth and fifth places with 156 and 132 points, respectively.
At the Constructor level, Mercedes leads the general classification with 438 points, while Ferrari comes in second with 288 points, 44 points ahead of third-placed Red Bull.
Last season’s Mexican GP was claimed by Verstappen, which was a repeat for him as he also won the Mexican GP in 2017.
Verstappen has become F1’s dark horse challenger this year, snatching two race-wins from Mercedes and bringing more excitement to the season.
His first win was at his team’s Red Bull Ring circuit in Austria back in June, before winning the unexpected German GP on July 28.