Future Of Canadian F1 GP In Jeopardy As Government Says It Won't Use Public Funds
The Canadian F1 Grand Prix "is popular with drivers and fans, however its place on the series' calendar is in jeopardy," according to the KURIER. The contract between the racetrack operators and F1 CEO Bernie Ecclestone expires in '14, and a targeted 10-year extension "is still not in sight." The reason the track has not yet reached a deal with Ecclestone "is most likely due to the Canadian government's unwillingness to use public funds to pay for an increased hosting fee demanded by Ecclestone." He "reportedly demands an increase of about 5% as well as track modernization." Canada currently pays an annual starting fee of $15M, "a third of it comes from public funds" (KURIER, 6/9).