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Page last updated at 08:25 GMT, Saturday, 28 November 2009

Canadian GP back on F1 schedule

Lewis Hamilton
Lewis Hamilton won his maiden F1 victory at the Canadian GP in 2007

The Canadian Grand Prix is set to return to the Formula 1 calendar next season after a major financial deal was struck to keep the event in Montreal.

The race was dropped for 2009 due to a dispute between local authorities and F1 boss Bernie Ecclestone over funding.

But the Canadian government, Quebec and Montreal's tourism board will put up annual investment of £8.5million over the next five years to keep the race.

The 2010 Grand Prix has now been provisionally pencilled in for 13 June.

Formula 1 Management had originally reinstated the event in September for next year, subject to negotiations.

And the city's Mayor, Gerald Tremblay, has welcomed the new agreement which will keep the race.

"The return of Formula 1 to Montreal attests to our sustained efforts and determination," he said.

RayInTorontoCanada (U14124753)

"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."

Quebec's finance minister Raymond Bachand added: "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."

Montreal's Minister of Tourism Nicole Menard added: "The Grand Prix of Canada has more impact on the tourist industry than any other sports event in Canada.

"Of the 300,000 spectators at the competition, 25 per cent come from outside Quebec."

The race has been part of the F1 World Championship since 1967 and since 1978 had been held at what is now called the Circuit Gilles Villeneuve in Montreal.

Two years ago, Lewis Hamilton won his maiden F1 victory at the venue in only his sixth race, while last year Robert Kubica also clinched his first F1 win in Montreal.

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see also
Canadian GP back for 2010 season
14 Sep 09 |  Formula 1
Bahrain set to start 2010 season
29 Aug 09 |  Formula 1
Canada dropped from F1 calendar
08 Oct 08 |  Formula 1
Abu Dhabi to stage 2009 F1 finale
25 Jun 08 |  Formula 1

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