translated from Spanish: Farewell Formula 1? CDMX seeks alternative

shows the head of Government of the city of Mexico, Claudia Sheinbaum, said seeking forms of financing in order to achieve the 400 million pesos to keep Formula 1 show in the nation’s capital in the coming years.
So said then that yesterday the CDMX lose their preferential right to keep holding the event for 2020, although the capital President made it clear that: “That does not mean to stop doing it”.
Lee: AMLO will not renew contract to two of the most profitable sports events Sheinbaum Pardo said that previously the event cost 800 million pesos, and although the supply managed to reduce 400 million pesos, “anyway seems too high”.
He mentioned that in previous years, resources were contributed by the federal Government, through the tourism Fund, but to reorient the tourism efforts to train Maya already have not you can count on that support.
“The issue is whether the city of Mexico can bring that resource; from our perspective as they are many resources to make Formula 1, then clear that we are interested, but it is a very strong public delivery”, explained.
Lee: Formula 1 in Mexico, costs and earnings for the country, according to official data therefore the head of Government said that they will seek not only public financing, but also with some companies, “but it is not trivial to have 400 million pesos as much as you do a cabbage ECTA”.
It added that I should not be reached most performing Formula 1 in the capital of the country, is seek to carry out other shows of this type so that the city of Mexico not lost its international image, by what already discussed options shows that can lieu mode to Formula 1.
Sheinbaum commented that they could be another category for automobile or motorcycle racing.
“In 2019 is Formula 1, that is not in doubt, in which we are working is of the 2020 onwards”, said at press conference.
President Andrés Manuel López Obrador said in his morning Conference February 19, that his Government already does not renew contracts with Formula 1 and the NFL, which means that 2019 would be the last year that Mexico received two of the most important sporting events around the world, and therefore extremely profitable for the country’s economy.
Lopez Obrador added that his Government will support all sports “but with austerity, without having excess, without extravagance”.
Editions of 2014 to 2017 left the country and the city of Mexico an income higher than the 23 billion pesos, amount which is 600% higher than the amount of public money that was invested to carry out the event.
Whereas, according to official data from the federal Government and city of Mexico, with the economic benefits of the 2018 Edition (which still is accounted for) and the 2019 Edition, which will have an estimated final of nearly 40 billion pesos gain between 2014 and 2019.
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Original source in Spanish