Canadian Grand Prix stays in Montreal for another 10 years

Force India driver Nico Hulkenberg, from Germany, drives through the course during a practice session at the Canadian Grand Prix, Friday, June 6, 2014, in Montreal. (AP Photo/AP Photo/David J. Phillip)

It's official.

The Canadian Grand Prix will stay in Montreal for the next 10 years.

Montreal mayor Denis Coderre announced that an agreement was reached with Formula One to keep the race going through 2024.

The municipality as well as the federal and provincial governments will contribute a total of $187 million over 10 years to keep the race.

The city has also agreed to spend between 25 milion and 45 million to improve the paddocks, the control tower and other amenities at the track.

The announcement was made as the Canadan Grand Prix was being run for the 35th time in Montreal and 45th time overall.

The race is considered the city's most important tourism draw and contributes an estimated $90 million per year to its economy.

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  1. Dave posted on 06/07/2014 02:49 AM
    It's pathetic that Montreal depends so desperately on this crass event in place of having a real economy.
    Merci la, Loi 101!!!
  2. Joe posted on 06/08/2014 12:01 AM
    This is great news. We get to spend 187 million of our hard earned tax dollars to see no gain in our day to day life, which has happened for the past 20 this this race has been here. Same potholes, even more, same parks with more weeds than grass, crappy snow and garbage removal, bridges falling down, higher taxes lower services and so on. Bottom line let the greedy people making the profit, make a little less over these 10 years pay for this race. Tax them not us, our tax money is meant for health care, education and anything else that helps us get through our day to day life, and not luxuries that at this moment we cannot afford.
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