The future of the Canadian Grand Prix has now be assured, after it was revealed on Saturday by circuit officials that a new contract has been signed.
Officials at the Circuit Gilles Villeneuve today confirmed in a pre-qualifying press conference that the Canadian Grand Prix will continue at the Montreal venue for the next 10 years, after a new deal was signed with Bernie Ecclestone’s FOM [Formula One Management].
In a move to update the ageing track, which first hosted a F1 grand prix in 1978, officials will invest more than $30million in an upgrade of the circuit facilities, which will included a refurbishment of the paddock and race control facilities.
The move secures the long-term future of the Canadian Grand Prix – first held in 1967 – until 2024.
The race had come under threat in recent years, in the wake of the ban on tobacco sponsorship of sporting events in Canada, being left-off the initial 2004 calendar and being entirely absent in 2009, before returning a year later with a five-year deal, the last year of which expires in 2014.
Image courtesy of Force India F1 Team