Formula One returns to Mexico after 23 year absence

After a 23 year hiatus, Formula One has made its way back to Mexico. Formula One President and CEO, Bernie Ecclestone, has officially confirmed long-swirling rumors that the world’s premier auto racing league will once again make a yearly visit to Mexico City after an absence of more than two decades.

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The news comes after the live entertainment company, CIE—which will work as the representative and administrator of the Autodromo Hermanos Rodriguez racetrack where the race will be held—formally reached a five-year agreement with Formula One organizers.

The Mexican Grand Prix, which is slated to kick off next year, will once again take place at the same track. The race has been held here several times in the past.

From 1963-1970 and 1986-1992, the Autodromo Hermanos Rodriguez track in Mexico City served as the home of Formula One in Mexico. While the return of the Grand Prix has been years in the making—the race was originally scheduled to return in 2014. The track has finally been updated and modernized in order to meet current Formula One standards and regulations.

“The circuit is likely to be reconfigured from the layout last used when Nigel Mansell won in 1992, with the neutering of the infamous and ultra-fast banked right-hander at the end of the lap, ‘Peraltada,’” explained Andrew Benson of “BBC Sports”. “It will also be resurfaced to reduce its notorious bumpiness, with spectator stands and pit garages also undergoing renovations to comply with FIA regulations.”

Multiple factors played a role in the expansion race’s official re-institution–amongst them, the most significant were a favorable calendar schedule, rising Mexican-born drivers in the F1 circuit, and the backing of resourceful and exceedingly wealthy investors.

To begin with, the annual Formula One race calendar currently has a gap in the mid-October range as drivers make their yearly tour through the Americas. This slot could easily accommodate the new Grand Prix and would likely mean that the Mexican and American Grand Prix’s—which is held in Austin every year—would be held back-to-back through 2020.

Beyond advantageous scheduling scenarios, both Formula One and Mexican Grand Prix organizers seem to be capitalizing on the fact that there are two up-and-coming Mexican drivers in the F1 ranks. Particularly, Sergio Perez—who debuted in 2011 and currently drives for the Force India team—has piqued Mexican interest in the sport and opens great marketing possibilities for Formula One in a relatively untapped market.