Sergio Perez has warned this year's Mexican Grand Prix could be the last of this generation if it falls off the calendar.

This week the country's president has said he will investigate the contract Mexico has with Formula 1 and may well cut government funding as part of an austerity program.

That puts the prospect of a new deal being agreed very much into the unlikely category and, having worked to get the sport back in 2015, Perez is frustrated by the situation.

“It’s not looking great,” the Racing Point driver was quoted by Crash.net when asked about the future of the race.  

“I really hope that we can get some good news later on. I think it’s very important for our country, it’s a great place for Formula 1 - the last four races they have been a great venue. So I hope we can keep it."

It is true that Mexico has established itself as a showpiece event thanks to the atmosphere and racing produced at the Autodromo Hermanos Rodriguez.

However, Checo realises it is not necessarily a priority race for Liberty Media.

“There are so many countries out there that want a Grand Prix, so once you lose your venue I think it’s very hard to get it back for many years," he continued.

“It cost us so much to get, but now if we lose the place I think probably that will be the end. 

“We will have to wait another thirty, fifty years to get it back, and I think it’s great exposure for your country to have a Grand Prix. So it would be a shame if we lose the Mexican Grand Prix.”

The only feasible route to saving the race should the government pull its funding, comes from the private sector and the businessmen that have supported Perez through his F1 career, including billionaire Carlos Slim.

“I’m in contact with all of them," he said. “More as a Mexican to be honest, because as a Mexican I really want my country to be seen all around the world to show how good Mexico is and I think F1 offers you that platform.”

However, the 29-year-old admits the lack of personal gain a businessman might get is a hurdle to finding the money.

“I guess it’s hard because all the benefit is done for the government so I don’t know if it’s possible to do it another way,” Perez concluded.