Way back in April 2009, Pitpass business editor Chris Sylt claimed that F1 would be returning to Mexico, the propect is finally moving from the back burner.

Days after FIA president Jean Todt hinted that the sport might make a return to the country which hosted 15 Grands Prix between 1962 and 1992, Carlos Slim Domit, son of the world's richest man Carlos Slim, has revealed that plans are definitely progressing. "It's being studied," Slim Domit told Reuters.

Other than Todt's comments, Slim Domit's admission comes at a time when Mexico in enjoying a high profile in motorsport, largely thanks to Carlos Slim, what with involvement in the Sauber F1 team, GP2, NASCAR and local racing.

In terms of circuits, the most likely venue is the legendary Hermanos Rodriguez track in Mexico City. While it would need serious upgrading to bring it up to 2011 FIA standards it is still in use, albeit it mostly for concerts and baseball. However, it is still used for racing, most notably NASCAR.

However, Slim Domit, who is head of the board of his father's communications company Telmex, admits that he is also considering a street circuit in Guadalajara, in western Mexico.

Although, like many other circuits, the Hermanos Rodriguez track was emasculated in the name of safety, it was always popular with drivers and fans. The reason Mexico dropped off the calendar was its inability/unwillingness to meet the cost of hosting a round of the world championship.

Speaking last week, during a visit to Mexico, Jean Todt, when asked if F1 might return, told reporters: "Mexico has a strong economy and I am convinced that in the future this will be possible. We know that racing is costly. There are a series of criteria that need to be met for the event, most importantly security (on the tracks)."