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Canadian Grand Prix organizers announced a new, 10-year contract, this weekend at the Circuit Gilles-Villeneuve.
The Honourable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec, Robert Poeti, Minister of Transport and Minister responsible for the Montréal region, Denis Coderre, Mayor of Montreal, Yves Lalumière, President and CEO of Tourisme Montréal and François Dumontier, President and CEO of Octane Racing Group Inc., promoter of the Formula 1 Grand Prix du Canada, were gathered for the announcement.
They confirmed the government of Canada will invest $62.4M over the next 10 years. Over the same period, the province of Quebec will invest $49.9M, Tourisme Montreal $60M, and the city of Montreal $12M.
Montreal will also be in charge of building of renovation the team garages, the press room and the medical centre. These new buildings will have to be completed in time for the 2017 Canadian Grand Prix.
Statistics indicate the event generates up to $90M every year in economic benefits, and that half of the spectators come from outside the province of Quebec.
Sanctioning fees for the Canadian Grand Prix are amongst the lowest imposed by Bernie Ecclestone's Formula One Management company for hosting an F1 race.
The Honourable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec, Robert Poeti, Minister of Transport and Minister responsible for the Montréal region, Denis Coderre, Mayor of Montreal, Yves Lalumière, President and CEO of Tourisme Montréal and François Dumontier, President and CEO of Octane Racing Group Inc., promoter of the Formula 1 Grand Prix du Canada, were gathered for the announcement.
They confirmed the government of Canada will invest $62.4M over the next 10 years. Over the same period, the province of Quebec will invest $49.9M, Tourisme Montreal $60M, and the city of Montreal $12M.
Montreal will also be in charge of building of renovation the team garages, the press room and the medical centre. These new buildings will have to be completed in time for the 2017 Canadian Grand Prix.
Statistics indicate the event generates up to $90M every year in economic benefits, and that half of the spectators come from outside the province of Quebec.
Sanctioning fees for the Canadian Grand Prix are amongst the lowest imposed by Bernie Ecclestone's Formula One Management company for hosting an F1 race.