Mexico’s Major Entertainment Company signs 5-year contract to host Formula 1 competitions.
Mexican live events company CIE announced on Tuesday July 22nd it has signed a five-year contract to host Formula One races in Mexico starting in 2015.
CIE said in a filing with the Mexican stock exchange that the deal was still subject to final negotiations. It did not provide terms of the deal.
Races will be held at the Rodriguez Brothers race track in Mexico City, which last hosted a Formula One race in 1992. The 2.7-mile (4.4 km) track can seat 32,000 spectators, according to its website.
CIE signs 5-year contract to host Formula 1
The Mexican Formula One Grand Prix (Gran Premio de Mexico) has been held at the “Autódromo Hermanos Rodríguez” in Mexico City fourteen times. It first appeared as a non-championship event in 1962 before being held as a championship event from 1963 to 1970; and later on from 1986 to 1992.
(Reporting by Tomas Sarmiento; Editing by Peter Galloway)
Source: http://in.reuters.com/
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