Organisers in Mexico claim that a new deal has been agreed which will keep the Mexican Grand Prix on the calendar.
Having only returned to the calendar in 2015, the event, popular with fans and drivers, was one of several in serious doubt, along with the British, Spanish, Italian and German rounds.
Earlier this year the future of the race was put in serious doubt after it was revealed the Mexican government would no longer provide funding for the race, and would instead divert the money to the construction of a controversial new railway.
Earlier today, however, the official Twitter feed of the Mexico event declared: "The City of Mexico's #FIESTA will continue! Thanks for being the best fans on the planet. Stay tuned on our social channels tomorrow to know all the details."
In a subsequent video, Mexico City mayor, Claudia Sheinbaum announced: "I want to share some good news that I just received. Formula 1 is staying in Mexico City. The FIA president is going to be here tomorrow to sign it. This is good news for the city.
"I also want to tell you that this is thanks to a group of businessmen who made this possible because this time the city is not using any public funds. It's good news for the city. It brings tourism, it brings income, and it's also good for the country."
It's understood that the new contract will be announced on Thursday to coincide with the latest financial figures for Formula One, which are not expected to be good news.
Though Italy and Spain are both claimed to have agreed new deals, Silverstone's - which was announced on the eve of this year's British Grand Prix - is the only deal to have been officially confirmed.
At the weekend, Toto Wolff revealed that team bosses had given the sport's bosses the green light to increase the 2020 schedule to 22 races, making it the busiest season in the sport's history.
Only Germany, which two weeks ago hosted one of the most entertaining races in living memory, looks set to fall from a calendar, which next year sees the Return of the Dutch Grand Prix and the first Vietnam Grand Prix.