Perez: Mexico return could take 50 years if GP leaves F1 calendar

The current contract for the Mexico City race ends this season, and negotiations with F1 owner Liberty Media for a new deal to start in 2020 were turned upside this week when the country's president said that the national government could not continue to subsidise the event.

"It's not looking good," said Racing Point driver Perez. "Hopefully we can get some good news later on. I think it's very important for our country to keep it.

"It's a great place for Formula 1. The last four races have been the best, at a great venue. So hopefully we can keep it.

"There are so many countries out there that want F1 grands prix. So, once you lose your place, I think it's very difficult to get it back.

"It cost us so much to get, but now if we lose a place it will probably be the end.

"I think we would need to wait another 30, 50 years to get it back.

"It's great exposure for your country to have a grand prix. So, it would really be a shame to lose the Mexican Grand Prix."

Perez admitted he did not know if alternative backing could be found with the state support lost.

"On that I have no idea, I'm not in charge on that and I don't really know," he said.

"I guess it's hard because all the benefit is done for the government, so I don't know if it can be done another way."

He also acknowledged that the loss of the race would be a major blow for future generations of Mexican racing drivers.

"The grand prix generated a lot of interest for the young generation," said Perez.

"Before the Mexican Grand Prix, I probably spent the last 15 years without racing in Mexico.

"So it would be a shame, a big shame for the new generations, for the sport and for our country."