Mexican businessmen ask for clue in ‘Barranquilla Grand Prix in F1’

Barranquilla continues to warm up engines to accelerate towards a dream. He manages here and there, in Colombia and abroad, waiting for the green light for his ambition to host what would be dubbed Formula 1’s ‘Caribbean Grand Prix’.

As she runs the errands and tries to meet all the requirements that make her one of the 35 candidates to be part of the Formula 1 competition calendar, opportunities continue to open to the dream come true, I long for it.

The Corporación Interamericana de Entretenimiento, CIE, the company organizing the Mexican Grand Prix, has expressed interest in being part of the group promoting the bid for the capital of the Atlantic as the venue for one of the most relevant automotive competitions in the world .

“There is a group of private promoters, who are the managers. Some Spanish businessmen led the process (led by Luis García Abad, manager of the Iberian pilot, Fernando Alonso), they brought the idea and would lead a large part of this project. The CIE group, which manages the race in Mexico, has shown great interest in participating,” Mayor Jaime Pumarejo told EL HERALDO.

“The district has accompanied us with our logistics capacity, with our public management capacity and, of course, the organisation, which has been key to making this Grand Prix go ahead, but ultimately the great responsibility ends with the promoter, both in the obtaining resources, as well as in the logistics of the race,” the mayor added.

Pumarejo clarified again that “a business model has been achieved in which most of the investments are private and what should be adopted by the city are additional and multi-purpose investments, i.e. improvement of existing roads or construction of buildings for educational or cultural purposes.” themes that can be adapted so that two weeks a year function as infrastructure or equipment for Formula 1”.

“We must guarantee minimum conditions, which are not too difficult to meet and which ensure incredible economic development thanks to the income generated by tourists and the brands associated with the project,” he added.

In 2015, according to a report from the Expansión web portal, the Inter-American Entertainment Corporation invested “$360 million for the next five years, with the expectation that the investment will triple by the end”.

The CIE, according to the same publication, has entered into commercial and sponsorship alliances with Heineken, DHL, Aramco, Crypto.com, Emirates, Rolex, AWS, Ferrarin Trento 1902, Liqui Moly, Zoom, the Government of Mexico City, Heineken, Citibanamex, BNP, Banorte, Telcel/infinitum, TopoChico, Tane, Kavak and Lapi.

It is estimated that the event will create 8,000 temporary jobs in the Aztec capital and a hotel occupancy rate of more than 80%.

Pumarejo believes there are strong reasons for Gustavo Petro’s government to approve currambera’s ambition.

“In the beginning there was a lack of information. The first thing we’ve talked about and shown the senior government, from the presidency to various ministers, is that this is a viable project. Second, that it has the two central components of its governing plan: the promotion and use of our environment as a source of development and income, and its preservation. And the economic development through tourism and the change of the country’s image. All this is possible through the Grand Prix. We demonstrate those benefits. Moreover, this is a project that does not require large amounts of public funds. There has been a positive response from several government officials, now is the time to materialize that,” the mayor insisted.

But when will it be determined whether or not Barranquilla is the venue for Formula 1?… “This is a long-term project, not that long, we’re talking about four to five years to see it happen in a first race. We should have the definition this year, the things that are needed and the commitment of the country and the city. If we manage to work together, public and private, maybe this year we could announce that in the long run we will have not just a Grand Prix, but a decade of competitions in Colombia,” Pumarejo assured.

“We have made progress with the proposal and more is possible every day. We still need more work and guidance, but Formula 1 is delighted to be able to do this, so we can be optimistic but cautious,” he said.

WHAT IS THE ICD?

The Inter-American Entertainment Corporation (CIE) describes itself on its website as follows:

“Originating in 1990, the company is one of the most prominent players in the Latin American and global arena in the out-of-home entertainment industry.”

“It offers a wide range of entertainment options for a variety of audiences and budgets in large and medium-sized cities with high economic potential and population growth in the Mexican market; but also in Colombia. This range of options includes concerts, theater productions, sports, family and cultural events. Similarly, the company operates an amusement park, El Salitre, in Bogotá, Colombia.”

“The company operates the Citibanamex Center in Mexico City, one of the largest and most important international exhibition and convention venues. Likewise, it is the most prominent producer and organizer of special and corporate events in the Mexican market. Likewise, CIE promotes and sells the Formula 1 Grand Prix of Mexico”.

“Corporación Interamericana de Entretenimiento is a public limited company whose shares have been listed on the Mexican Stock Exchange (“BMV”) since 1995, under the ticker symbol “CIE”. The company maintains long-term stock certificates that trade on the BMV.”

Source: El heraldo

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