The country south of our border held a total of fifteen world championship grands prix in the 1960s, '70s, '80s and '90s, but after '92 it fell by the wayside. But now F1 racing is enjoying a resurgence in popularity in Mexico, mostly revolving around the Sauber team. Sergio Perez is driving for the team, Esteban Gutierrez is their test driver, and Telmex is one of their principal sponsors.
On the back of that popularity, talk is in progress to bring F1 racing back to Mexico. The project reportedly involves entertainment company CIE and billionaire businessman Carlos Slim's son Carlos Slim Domit. CIE owns the Hermanos Rodriguez circuit in Mexico City (named after the brothers who were arguably the most prominent F1 drivers in Mexican history), which could potentially be rejuvenated and brought back up to modern F1 standards, or alternatively a new street circuit is being mooted for Guadalajara.
Either prospect would be several years away, but FIA president Jean Todt is quoted as supporting the venture, which would also join the Brazilian Grand Prix that is currently the only F1 race in Latin America since the demise of the Argentine Grand Prix in 1998.