Canadian GP Inks New Ten-Year Formula 1 Deal
By Community | June 9, 2014
Formula One Management has signed a new deal with The Canadian GP which will keep the Montreal event on the Formula 1 calendar until 2024.
This year’s race took place on the weekend and saw Daniel Ricciardo take his maiden victory.
As part of the long-term arrangement, organisers will invest $32m (£17.4m) in upgrading the track’s facilities.
“This is the place to be this weekend, but this will be the place to be for the next ten years,” Montreal’s mayor, Denis Coderre, declared.
“I’ve always believed in this project and I’ve always believed in a positive outcome for the city of Montreal. The Canadian GP is one of the big international events that builds on Montreal’s outstanding reputation and ranking among the world’s great cities.
“We are talking about an investment of C$12 million dollars plus we will take care of all the infrastructure. There will be a new paddock and a new [race] tower, we will take care of that. Basically it will be around C$32 million.”
Montreal has been a mainstay on the calendar since 1978 but dropped off the schedule for a season in 2009 over a financial dispute before the most recent five-year agreement was signed.