How Much Will Canada Pay To Save Montreal GP?

How Much Will Canada Pay To Save Montreal GP?

How Much Will Canada Pay To Save Montreal GP?


Government chequebooks tucked into their back pockets, Montreal’s mayor and two senior cabinet ministers with political responsibility for the city are expected to jet from this city to London on a commercial flight Wednesday evening.

It’s their latest step in an attempt to put the Grand Prix du Canada back onto next summer’s international Formula One racing schedule.

To make the reinstatement pitch at a meeting that is scheduled for Thursday with Grand Prix kingpin Bernie Ecclestone, Montreal Mayor Gérald Tremblay has teamed up with Raymond Bachand, the Quebec minister for economic development, and Michael Fortier, the federal minister of international trade.

Nobody in the know is attaching any public price tag to this potential Grand Prix salvage package.

But figures in the range of $10 million to $20 million have been batted about.

Meanwhile, organizers of various Montreal street festivals centred on the Grand Prix announced they intend to unveil an “action plan” at a 10:30 a. m. news conference today “to save the Canadian Grand Prix.”

The Canadian GP, which draws an estimated $100 million per year in revenues and economic spinoffs to Montreal, was dropped from F1’s 2009 calendar on Oct. 7 and replaced by a race in Abu Dhabi.

The Turkish Grand Prix was also moved into Montreal’s June 5-7 dates.

F1 supremo Ecclestone was believed to have left the race off next season’s calendar because of claims that contractual obligations for this year’s race had not been met. Canadian GP officials denied owing any money but admitted there was a disagreement over the fee for the 2008 race at Montreal in June.

Ecclestone revealed he did not see the event returning to the calendar for 2009, meaning it would be the first year since 1950 a world championship race had not been staged in North America.

The Quebec government is willing to help bail out local organizers if it makes cold economic sense for taxpayers to bring the thundering F1 herd back to Montreal, Bachand said yesterday.

He refused to specify just how much the province expects to dangle in front of Ecclestone Thursday.

“The Grand Prix is a big event, it’s the biggest tourism event, but how much does it bring in concretely, not only in spinoffs but in cash in our pockets as citizens, as taxpayers?... I am starting to get some pretty reliable numbers…. I am going to negotiate with Mr. Ecclestone, so we will keep our cards to ourselves.”

“It’s a very economic decision: If… I give you $2 or $3 or $1 for an event which brings me $10, it’s a good decision for taxpayers. I am quite cold about this. If it makes cold economic sense for taxpayers to bail out the Grand Prix du Canada, the Quebec government is willing to help.”

 

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