Mexico is set to join the Formula 1 calendar for 2015, making its return to the top tier of motorsport after a 22-year abscence.
The Mexico City-based events company CIE said in a filing with the country's stock exchange that it has signed a five-year contract with the sport.
The race, masterminded by former Austin F1 chief Tavo Hellmund and also involving Carlos Slim Domit, will take place at the Autodromo Hermanos Rodriguez in Mexico City, which last hosted a grand prix in 1992.
Bernie Ecclestone confirmed to Forbes: "We have got Mexico past the post."
F1 to Honour Russia GP Contract
Ecclestone also moved to dismiss doubts about this year's inaugural Russian Grand Prix.
In the wake of the Malaysia Airlines MH17 atrocity, pressure is falling on Formula 1to cancel its scheduled event at Sochi in October.
The Daily Mail reported that Mercedes, whose Malaysian sponsor Petronas has set up a fund for the families of the 298 victims, is privately 'uneasy' about attending an event so closely associated with Vladimir Putin.
But Bernie Ecclestone, who earlier this year revealed his "great admiration" for the controversial Russian president, insists: "I don't see any problem with going.
"We are not involved in politics. We have a contract with them. We'll respect it 100 per cent and so will Mr Putin, I'm sure. He's been very supportive," the F1 chief executive added.
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