Just days after the promoters of the Mexican Grand Prix distanced themselves from the statement issued by the Formula One Promoters Association, it has been revealed that the local government has withdrawn its funding thereby putting the race in serious jeopardy.

"For 2020, the federal government has no longer committed this resource because it is earmarking most of the funds to the completion of the Mayan tourist train or the Mayan train," Head of Government for Mexico City, Claudia Sheinbaum, tells El Financiero.

It is understood the event receives around 400m Pesos a year, equivalent to £16m (21m), but that this will now be allocated to the Mayan Train project, an ambitious, and controversial, £7.5bn ($9.8bn) project to build a railway through five south-eastern states.

"F1 in 2019 is going to take place because since last year the past administrations committed this amount," confirmed Sheinbaum, though this year's race is the last under the existing contract, with Spain, Britain, Germany and Italy also in the final years of their current deals.

"Following the statement made by the Formula One Promoters' Association, the F1 Gran Premio de Mexico promoters want to express their sympathy with the promoters from other countries, understanding that each country and race is different," said the Mexican organisers in their statement on Tuesday. "In addition, the Mexican Grand Prix's promoters welcome the ongoing collaboration and good relationships with the rest of the promoters.

"However, F1 Gran Premio de Mexico did not participate in said meeting and appreciate the work that the new owners of F1 are doing to understand the promoters' requirements and concerns, as well as those from the fans.

"The Mexican Grand Prix's promoters recognise that the new administration of F1 has listened and been sensitive to their concerns, with both parties working very closely together. As a result, they do not agree with what was released by the Formula One Promoters' Association on their behalf. The Mexican promoters and F1 continue the negotiations regarding the renewal of the F1 Gran Premio de Mexico contract in private."

With no government funding available, as is the case with the British and Brazilian events, organisers in Mexico are now likely to adopt a totally different attitude, especially if they encounter the same indifference from Formula One Management that Silverstone has encountered.

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READERS COMMENTS

1. Posted by Yeyox02, 03/02/2019 18:31

"Well..... from now any investment in Mexico will be under threat."

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2. Posted by jagger, 03/02/2019 5:05

"no one will cry over this one. George"

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3. Posted by mds167, 02/02/2019 9:42

"So it costs too much to put on a race, it costs too much to run a team at the top of the pack and it costs too much for fans to go and watch for a weekend or a free-to-air provider to put on (in the U.K. at least)?"

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4. Posted by stackvideo, 01/02/2019 22:01

"LOL. Sorry, but couldn't help myself"

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5. Posted by Burton, 01/02/2019 19:39

"Good to see a government having its priorities straight for once. Shame to lose the event but F1's model has been wrong for many many years. Maybe it will take having multiple races in peril to see things change."

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Mexican GP under threat?

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