The City of Sao Paulo officially launched a call for the concession for 35 years of the Interlagos racetrack, scene of the Formula One Brazilian Grand Prix.

Interested parties should submit their proposals until March 27.

The contract notice was published in the Official Gazette of the municipality of Sao Paulo.

The winner will be responsible for the reform, management, maintenance, operation and exploitation of the area of ​​900,000 square meters.

The city of Sao Paulo expects to raise around BRL 1 billion (about USD 228 million) during the operation of the automobile complex over 35 years.

The São Paulo Court of Accounts previously suspended the first tender, arguing to seek greater public transparency in the concession. The novelty now with the new contract notice is that the Interlagos racetrack may have multiple uses, that is, have equipment for recreational and cultural activities, in addition to authorization for hotels, shopping centers and transport terminals.