Formula One Management has announced that the Mexican Grand Prix will continue to be held in Mexico City until at least the end of 2022.

The agreement between F1, the Corporacion Interamericana de Entretenimiento (CIE), the promoter of the event, and the Government of Mexico City was formally signed today at a press conference held in the Antiguo Palacio del Ayuntamiento in Mexico City.

The agreement means the city will continue staging a round of the Formula 1 World Championship at the Autodromo Hermanos Rodriguez, which first hosted the race in 1963.

The Mexican Grand Prix is one of the most spectacular of the year, loved by the drivers and the fans. This year, the race, which has seen the drivers' title decided five times in the past, celebrates its 20th running.

From 2020 the official event title will change to Mexico City Grand Prix to emphasise the support given by the Government of Mexico City.

"We are pleased to have renewed our partnership with Mexico City, which will now host the Formula 1 Mexican Grand Prix until at least 2022," said Chase Carey. "Ever since it returned to the championship calendar in 2015, this event has always proved to be amazingly popular with the public and fans, not just in Mexico, but also around the world.

"Proof of this is the fact that the race promoter has won the FIA award for the best event no fewer than four years in a row and, in those four years, over 1.3 million spectators have attended the Grand Prix.

"The Grand Prix has also been an important economic driver for the city, reinforcing its credentials as a centre for tourism.

"I would like to thank the Mayor, Claudia Sheinbaum Pardo and the entire government of Mexico City for all their efforts in ensuring that Formula 1 continues in Mexico and I look forward to seeing another big crowd of fans at the Autodromo Hermanos Rodriguez from 25 to 27 October for the Formula 1 Gran Premio de Mexico 2019."

"The presence of Formula 1 in the city for further three more years, was achieved for the first time through a new financing model in which public resources are not used," added Claudia Sheinbaum Pardo, Mayor of Mexico City. "Previously the Federal Government collaborated with the payment for the event. The Mexico City government will be an intermediary, creating a trust that will raise the private investment required to deliver this international event. The price of the tickets will remain the same as in previous years."

"I want to deeply thank Dr. Claudia Sheinbaum and the Government of Mexico City for the vote of confidence they have entrusted in us," said Alejandro Soberon, President and CEO of CIE. "At CIE, we remain committed to promoting and operating the highest quality events in the world. Through this international platform, we have the opportunity to showcase the diverse cultural wealth of this fantastic city.

"We look forward to welcoming the thousands of tourists, both domestic and foreign to this award-winning event. In addition, I want to thank the Formula 1 fans both in Mexico and abroad - without a doubt, your energy and passion has made our Grand Prix a very unique and special experience."