F1 has confirmed a new three-year contract extension to keep the Mexico City Grand Prix on the calendar until 2025.
This existing contract between F1, the Government of Mexico City and event promotors Corporación Interamericana de Entretenimiento [CIE] was set to expire following this weekend's race at the Autódromo Hermanos Rodríguez.
But the short-term future of the Mexico City event is now secure with F1 announcing on Thursday a new deal that positions the venue on the calendar in 2023, '24 and '25.
“I am very pleased to announce that Formula 1 will continue to race in Mexico City for another three years under this new agreement," said F1 CEO, Stefano Domenicali.
"Every year the race attracts a large number of passionate fans, and the atmosphere is incredible, and I know everyone will be excited by this news.
"I want to thank Claudia Sheinbaum, the Head of Government for Mexico City, and Alejandro Soberón and his team for their ongoing commitment to Formula 1 and the continued success of the event."
The event was previously titled the Mexican Grand Prix, but this changed at the start of the last three-year deal after the federal government pulled its funding.
Claudia Sheinbaum, head of government for Mexico City, added: “Formula 1 is very important for the city, not only because of its considerable economic impact, but also because millions of people around the world watch it and it showcases the beauty and grandeur of Mexico City to the whole country and the entire world.
"Since we took over the government of Mexico City, we endeavoured to put in place a mechanism that would allow Formula 1 to be held with the participation of
entrepreneurs who not only benefit from the event but are also keen to make it happen because they love the city, and they love Mexico.”
Praising Sheinbaum's efforts, CIE president and CEO Alejandro Soberón said: “The Mexico City Grand Prix contract extension has been made possible thanks to the leadership of Claudia Sheinbaum and the Mexico City Government.
"The ability to host the race in the nation’s capital until 2025 is the result of a coordinated effort to preserve an event that brings benefits to the city and excitement to thousands of fans.
"We will keep working to ensure the race continues to be a strong contributor to our city's economy.”