A Mexican entertainment company hopes to bring back the globally popular Formula One motor races to Mexico after a two-decade hiatus due to the high price of hosting the international events.
|Last Updated: Aug 09, 2011, 09:07 AM IST|Source: Bureau
Mexico City: A Mexican entertainment company hopes to bring back the globally popular Formula One motor races to Mexico after a two-decade hiatus due to the high price of hosting the international events.
"It`s being studied," Carlos Slim Domit, the son of the world`s richest man Carlos Slim, told reporters.
Slim Domit, a die-hard racing fan who also sponsors Mexico`s auto association, is a member of Formula One`s regulating body, the Federation Internationale de l`Automobile (FIA), which is working with Mexican company CIE to promote the return of the races.
He said the Hermanos Rodriguez track, in the eastern part of Mexico City, could be one of the locations for Formula One races in the future.
The track is operated by CIE and has hosted NASCAR races.It is mostly used for huge concerts or baseball games and a big investment would be needed to upgrade it to Formula One standards.
Mexico hosted 15 Formula One races between the 1960s and the early 1990s at the Hermanos Rodriguez track but had to discontinue the competitions in part because of their high price tag.
Slim Domit, head of the board of Telmex, Mexico`s biggest fixed-line and Internet company owned by his father, said another option could be a street circuit in the city of Guadalajara, in western Mexico.
The Slim family is heavily invested in a car racing team under the Telmex brand, which competes mainly in Mexico.One of the team`s drivers, Sergio Perez, recently signed with Formula One.
Formula One races are among the most widely watched in the world, generating millions of dollars in advertising and sponsorship deals.
In Latin America, Brazil is currently the only host.
Last week, FIA President Jean Todt also hinted that Formula One could return to Mexico but did not provide any details.
CIE operates the Mexico City horse racing track as well as electronic bingos and sport betting books in casino-like halls, and has long coveted the dream of bringing the international event to Mexican soil. The company had no immediate comment.
A plan to build a Formula One-ready track in the popular Caribbean beach resort of Cancun bombed about a decade ago.
In April, a source told Reuters that Rupert Murdoch`s News Corp was in early talks with Carlos Slim about forming a consortium to acquire control of Formula One.
Bureau Report
By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.
Cookies Setting
By clicking “Accept All Cookies”, you agree to the storing of cookies on your device and the processing of information obtained via those cookies (including about your preferences, device and online activity) by us and our commercial partners to enhance site navigation, personalise ads, analyze site usage, and assist in our marketing efforts. More information can be found in our Cookies and Privacy Policy. You can amend your cookie settings to reject non-essential cookies by clicking Cookie Settings below.
Manage Consent Preferences
Strictly Necessary Cookies
These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. You can set your browser to block or alert you about these cookies, but some parts of the site will not then work or you may not be able to login.
Functional Cookies
These cookies enable the website to provide enhanced functionality and personalisation. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies then some or all of these services may not function properly.
Targeting Cookies
These cookies may be set through our site by our advertising partners. They may be used by those companies to build a profile of your interests and show you relevant adverts on other sites. They are also used to limit the number of times you see an advert as well as help measure the effectiveness of an advertising campaign. They do not store directly personal information, but are based on uniquely identifying your browser and internet device. If you do not allow these cookies, you will experience less targeted advertising.
Performance Cookies
These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us to know which pages are the most and least popular and see how visitors move around the site. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies we may not know when you have visited our site, and may not be able to monitor its performance.