Mexico looks to have kept its place on the Formula 1 calendar for 2020.

Earlier, the Mexican government pledged to devote the funding formerly allocated for the grand prix to the Mayan train railroad project.

But on Wednesday, race organisers declared on Twitter that Formula 1 in Mexico City "will continue". The deal is reportedly for three years.

"Stayed tuned tomorrow to know all the details," they added.

Indeed, Mexico City's mayor Claudia Sheinbaum confirmed that the new contract will be signed by Formula 1 officials on Thursday.

"I want to share some good news. Formula 1 is staying in Mexico," she declared in Spanish.

Sheinbaum said the race will no longer be funded by the government but by "a group of businessmen".

"The city isn't investing a single public resource," she said.