Business · Companies · 3 hrs ago
Mexico City Grand Prix organizers seek a contract extension
Mexico City Grand Prix organizers are negotiating to extend their Formula 1 contract, which currently covers races in 2027 and 2028.
Alejandro Soberón, president of event company CIE, said he hopes to add three years to the agreement.
Formula 1 has only 24 races on its calendar, and other countries are competing to host a race, including new venues planned in Portugal, Turkey and Rwanda from 2027.
Mexico has hosted the race every year since 2015, and its funding has relied on a private trust since 2019; 15 companies have contributed to the trust since 2025.
The latest race drew a record 405,363 fans, and Soberón said he sees nothing that seriously threatens its continuation.
Talks on the extension are continuing, with organizers seeking a defined term that would let them keep developing the event.
Mexico City has hosted the Formula 1 Grand Prix every year since 2015 and is negotiating an extension to its contract.
The race is currently scheduled to take place in Mexico in 2027 and 2028.
Alejandro Soberón Kuri, president of event promoter CIE, said he did not see anything that seriously threatened the race’s continuation.
Organizers hope to extend the agreement by three years, which would give them a five-year contract period.
The latest race drew a record 405,363 fans, according to Soberón.
- Who
- Mexico City Grand Prix organizers and Formula 1 are discussing an extension. Alejandro Soberón Kuri, president of CIE, spoke about the negotiations.
- What
- The organizers are seeking to extend Mexico’s Formula 1 contract by three years.
- When
- The negotiations were under way in 2026. The current agreement covers the 2027 and 2028 races.
- Where
- Mexico City, Mexico.
- Why
- Organizers want to keep the race on the Formula 1 calendar and have a defined period to continue consolidating the event.
This story does not have two clearly opposing sides.
Mexico City began hosting the Grand Prix and did so uninterruptedly, according to the article.
The race’s funding model changed, moving away from open public-budget support.
The private-funds trust supporting the Grand Prix had 15 companies contributing capital.
Mexico was negotiating a contract extension with Formula 1.
Mexico’s two remaining contracted races are scheduled to take place.
- Current contract
- Covers the 2027 and 2028 races
- Extension sought
- Three years, making a five-year period
- Race attendance
- 405,363 fans
- Private funding
- 15 companies contributing capital from 2025
- Host city
- Mexico City
1 source
What people are saying
At this moment, I do not see anything that seriously threatens the continuation of the race.
The desire of Formula 1 is for Mexico to remain on the calendar.
To achieve a three-year extension, giving us five years as in the original contract (2015–2019), and allowing us to continue consolidating things, always with a defined time horizon.