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ARE CANADIAN RACES SECURE AFTER LOSING TOBACCO SPONSORSHIP?
Published December 9, 1997
The Molson Indy races in Toronto and Vancouver are "not threatened" after Imperial Tobacco announced that it was dropping its sports sponsorships. Imperial's Player brand had a C$1.5M involvement in the two races. Molstar VP/Properties Mike Smith called the news a "big hit" but said the races "will continue." Smith: "We'll continue looking for new sponsors. I suspect it'll take two or three to recoup the loss." But Montreal's Canadian Grand Prix "faces a more challenging sponsor search" as Player's title sponsorship of the Formula One race averaged C$4M. Event spokesperson Richard Prieur said they are currently in sponsorship talks with other companies (TORONTO SUN, 12/9).