Canadian Grand Prix Returns To Formula One Calendar After One-Year Hiatus

Last year was the first time in three decades that the famous Gilles Villeneuve circuit was not featured on the F1 calendar. But after a series of negotiations which was dominated by finances, the Canadian Grand Prix will once again participate in the F1 World Championship, starting on 2010 through to 2014.

Last year, no thanks to Formula One Management (FOM)'s demand of 175 million Canadian dollars (RM 565 million) over five years, the event organisers—the federal, provincial and municipal governments—decided that it was too expensive to host the race and withdrew altogether.

Now, with the requirement dropping to 75 million Canadian dollars (RM 242 million), the Canadian, Quebec and Montreal governments have apparently found the offer “financially reasonable”, according to Quebec's Minister of Finance, and decided to bring back F1 by splitting the cost three ways.

Because of the sensitive nature of using taxpayers' money, the math had to work in the governments' favour. And indeed it does: 89 million Canadian dollars (RM 287 million) in total economic benefits are expected, which, along with the 30 percent of ticket sales should ensure that the governments have bagged a good deal for the next five years.

AboutSeow Yaohan

Seow Yao Han strives to bring you the latest and the most comprehensive information on cars available in Malaysia. But it's never easy for him to talk and write cars in this part of the world because what you lust after is often not what you drive home. When the euphoria of test-driving that branded, super-expensive sports car dies down, he just goes home in his less-than-glamorous ride.