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F1 Returns to North America- Confirmed

by F1Fan on November 29, 2009

After months of speculation throughout most of the 2009 season Montreal has confirmed that it will host the Canadian Grand Prix next June, but securing the race for Circuit Gilles Villeneuve didn’t come easy.

The final deal to secure the race on F1’s 2010 calendar was a collaborative offer by the governments of Canada, Quebec and Montreal along with Tourisme Montreal who joined together to help put together an £8.5 million annual investment plan for the next five years.

In return for the investment, Montreal and its partners will receive 30 per cent of the profits from ticket sales for the Grand Prix, which is scheduled to  take place on June 13 2010.

Montreal’s mayor Gerald Tremblay worked long and hard to secure the return of he Canadian Grand Prix to the Montreal Circuit de Giles Villenueve, and all of this work has finally paid off, commenting on the news Tremblay said:

“The return of the Formula 1 to Montreal attests to our sustained efforts and determination. This win-win deal falls in line with the terms we set and the taxpayer’s ability to pay and will create stability for the next five years.
I am very pleased that our metropolis is bringing back this crucial stage in the Formula 1 series for fans from around the world and an outstanding opportunity in terms of the event’s international reach.”

Local government officials defended the investment in the event claiming the huge financial boost to the local economy that the grand prix brings to Montreal more than justifies the expense.

Raymond Bachand, Quebec’s minister of finance and the minister responsible for the Montreal region said:

“For Quebec, this event by itself results in annual tax revenues of more than $10 million (£5.5 million), for a $4 million (£2.2 million) investment, minus revenues from ticket sales. All three levels of government have worked together tirelessly over the past few months to bring the grand prix back to Montreal, while acting in a financially responsible manner. With this agreement in hand, I am delighted that our efforts have finally succeeded.”

Now that we have one North American race, it sure would be good for Bernie, the FIA and interested parties to start working on securing a Grand Prix for the US in 2011. Assuming USF1 will make the grid in 2010 and survives the rigors of its first season in Formula 1, then just maybe we will be able to see a competitive US team competing on US soil. Now that would be something to cheer about!!

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