Mexico is set to remain on the Formula 1 calendar beyond the end of 2019, with a new multi-year deal to be formally signed on Thursday.
Mexico returned to the championship in 2015, following a 23-year absence, but its current contract will expire after this October’s event.
The withdrawal of public funding had threatened the event but on Wednesday the city’s mayor, who assumed office in December, confirmed that a contract will be signed on Thursday.
Mexico City mayor Claudia Sheinbaum also confirmed that the race will avoid the use of public funding, with the event set to be paid for privately.
The Mexican Grand Prix has been one of the best-attended, and most popular, on the calendar since its return in 2015, aided by the presence of local hero Sergio Perez.
The event’s official Twitter feed confirmed that “Mexico City will continue to host the #F1ESTA” and promised further details on Thursday.
A deal of at least three years, with an option for five, is set to be revealed.
Mexico is therefore set to be one of 22 events on an expanded 2020 schedule.
Vietnam and the Netherlands will join the roster while Mexico’s impending renewal joins Britain on the list of out-of-contract 2019 races that will stay for 2020 and beyond.
Italy has already reached an agreement in principle while Spain is poised to receive a one-year extension after the green light was given by the Catalan government.
Of the current grands prix Germany is set to be dropped.
