Formula One news
Canadian GP dropped due to a 'commercial disagreement'
09 October 2008The organizers of the Canadian Grand Prix has said there is only one way to keep Formula 1 coming to Canada and that is with the help of the government. The race promoter's Spokesman Paul Wilson has revealed there is a commercial disagreement between Ecclestone and the organizers of the Canadian Grand Prix.
Wilson said a handful of proposals of ways to reduce Montreal's financial burden were put to FIA and they expected at least one of them to be accepted, but were surprised when they were turned down. "It is true that a commercial disagreement existed between us, and we are sorry that Mr. Ecclestone deemed it appropriate to cut short the negotiations and react in this manner," Wilson said. "For an organization like ours, which is to say a private promoter, the actual business model implemented by the owners and the Formula One teams is no longer feasible."
Legault's company had three years to run on a five-year extension of its contract signed in 2006 with Ecclestone's company, which runs Formula One and has since been sold to British-based CVC. But it had out-clauses that could be exercised each year. Legault will not contest the decision.
The only way the Grand Prix can be saved is when the Canadian government is willing to invest but they will have to decide if it is worth injecting cash to bring Formula One back to Monreal. "Is it worth it? I can't answer that, they (the government) can," said Wilson.
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