From today's Globe & Mail:
http://www.theglobeandmail.com/sport...ticle12433564/
Future of Canadian Grand Prix clouded in uncertainty
SEAN GORDON
MONTREAL — The Globe and Mail
Published Friday, Jun. 07 2013, 7:54 PM EDT
Last updated Saturday, Jun. 08 2013, 8:29 AM EDT
The drivers love it, so do the sponsors, and the legions of business folk who can make a tourist season’s worth of profits in one week.
And the ticket-buying public? Fans flock to Montreal for Formula One.
About 300,000 will turn up over the course of three days of racing that culminates in Sunday’s Canadian Grand Prix, which takes place before a packed house, rain or shine...
...Ecclestone wants improvements to the creaking infrastructure at Circuit Gilles-Villeneuve – it’s broadly considered among F1 watchers as a basic condition to a long-term deal.
The public estimate for the costs of revamping the mould-infested paddocks and the aging control tower is roughly $27-million, although sources who have seen the plans suggest that’s a decidedly conservative figure.
That the cost could be spread over a decade is sure to work in Dumontier’s favour as he tries to drum up the funds.
So while Ecclestone may be willing to accept a slight increase on his annual allotment of public money – F1 is exceedingly adept at obtaining money from governments, which has the advantage of being guaranteed – the true cost of extending the deal could conceivably require a total investment of $200-million or more over the next 10 years.
It’s a lot of money, but if Ecclestone can’t find it in Canada, he won’t hesitate to look elsewhere.
“If Montreal cannot pay the required fee, then its popularity among the teams will count for little. Previously, the race was strategically significant as the only Grand Prix in North America, but with the introduction of the United States GP in Austin [Tex.] in 2012, it has lost that … its $15-million fee is considerably lower than the average $27-million in 2011, and is lower even than other historic races such as Silverstone [England]. In that context, its popularity alone may not be enough to save it,” Caroline Reid, the editor of Formula Money, said in an e-mail interview.
Then, there’s the looming presence of a Grand Prix event slated for New Jersey...