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SBD/June 10, 2013/Events and Attractions
F1 Grand Prix Of America Inks 15-Year Deal; Negotiations Ongoing For Canadian Race
Published June 10, 2013
NORTH OF THE BORDER: The GLOBE & MAIL's Sean Gordon noted the contract between Ecclestone and Canadian Grand Prix race promoter Octane Motorsports President & CEO Francois Dumontier runs out in '14, and "while talks have been ongoing for more than a year to extend that contract for another decade, progress has been painstaking." There is "still ample time to reach a deal -- the 2015 F1 calendar won’t come out until the fall of next year -- but the longer the negotiations drag on, the more the uncertainty will build." The main "sticking point is the amount poured into the race by the three levels of government -- while Ecclestone is reportedly willing to accept a modest increase on the $15-million or so in public money his company receives each year, Ottawa doesn’t seem in a big hurry to add to its share of the pot" (GLOBE & MAIL, 6/8).