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A Journey Into Paradise

Formula One Racing Poised for Return to Mexico

13 September, 2012

Reuters reported this week that
wildly popular Formula One motorcar races may be returning to Mexico in the
near future after more than two decades away. Mexican entertainment company CIE
is looking into the venture and hopes to facilitate the return of the races,
which came to a halt due to the exorbitant cost of hosting the events.

Carlos Slim Domit,who is the son
of the world's richest man (Carlos Slim),reportedly told Reuters,“It's being
studied.” Slim-Domit is a self-proclaimed die-hard racing fan and already
sponsors Mexico's auto association and is a member of the Federation
Internationale de l'Automobile (FIA),which is Formula One's regulating body.

According to the report,Mexico
City's could be one of the main locations for future Formula One races,as the
facility already hosts a number of Nascar races each year and is operated by
CIE. Although a hefty investment would be necessary to upgrade the track to
Formula One's strict standards,it is already used for large concerts and
sporting events. The Hermanos Rodriguez track hosted 15 Formula One races from
the 1960s through the 1990s but,much to the disappointment of legions of fans,
could not afford to continue doing so in recent years. Slim Domit also stated
that a street circuit is being considered for the city of Guadalajara.

The Slim family's Telmex brand is already heavily invested in car racing
and owns a team that competes all over Mexico. Sergio Perez,who is one of the
team's best drivers,recently signed with Formula One,providing yet another
reason for Slim Domit to get involved. In addition,Formula One races remain
some of the most heavily watched in the entire world,raking in millions of
dollars in advertising and sponsorship deals every year. Since Brazil is now
the only host country to sponsor Formula One races in all of Latin America,
this would be a boon for Mexico and would only serve to further strengthen the
country's already booming economy.

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