Carlos Slim Domit has confirmed efforts to revive the Mexican Grand Prix.
On a visit to Mexico last week, and before touring the Hermanos Rodriguez circuit, FIA president Jean Todt said it is "possible" the country will return to the F1 calendar.
"It is being studied," businessman Carlos Slim Domit, the son of the world's richest man Carlos Slim Helu, is quoted by the Europa Press (EP) news agency.
The report said Slim Domit, whose father controls the Sauber and Sergio Perez sponsor Telmex, is on the FIA's ten-member senate.
He reportedly said officials of the sport are working on the project to end Mexico's 20-year F1 absence along with the Mexican entertainment company CIE.
CIE is the operator of the Hermanos Rodriguez track in Mexico City, the scene of the last Mexican Grand Prix in 1992 won by Nigel Mansell.
Slim Domit said the circuit is one option for future Mexican grands prix, but EP said the facility would require "large investments" for improvements.
He said another option is a street circuit in the western city of Guadalajara.
Europa Press said CIE did not immediately comment.