REPORT: Ecclestone cuts rates to bring Grand Prix back to Montreal
This year was the first in Formula One history that had absolutely no presence in North America. But that could change for next year if the latest reports from Canada are any indication, as insiders suggest that a new deal between race organizers and government officials on the one hand and Bernie Ecclestone on the other is in the closing rounds of negotiations.
Ecclestone pulled the plug on the Canadian Grand Prix – the only F1 race in North America and a longstanding fixture of the F1 calendar – last year after municipal, provincial and federal government officials refused to pay his exorbitant fees. But after a year without the race in Montreal, Ecclestone has reportedly changed his tune and agreed to a substantially reduced (though still highly lucrative) deal with local officials that would cut his fees by a reported $100 million, down from his previous demanded guarantee of $175 million to the governments' counter-offer of $75 million.
The F1 chief's actions are suspected to be influenced by the new Concorde Agreement – F1's secretive profit-sharing deal – with the teams eager to return to North America and Ecclestone weary of losing more manufacturers from the series following the departure of Honda and BMW. Thanks to everyone who sent in tips!
[Source: The Globe and Mail via F1-Live | Image: Paul Gilham/Getty]
Reader Comments (Page 1 of 1)
f1tifoso 11:11AM (8/16/2009)
now if they can get the @sshole to set up a deal for a US race since there's new teams for 2010, that would be perfect - GO DRIVERS!!! :)
Reply
campasini1 12:37PM (8/16/2009)
agreed there will be american teams there should be an american race.
JRM 4:19PM (8/16/2009)
Why do you think he's trying so hard to get back to Montreal? It's because he's got no takers in the US!
...especially now since Tony George has been kicked out of the Indianapolis Motor Speedway.
David Ederer 1:27PM (8/16/2009)
I'm glad F1 is back in Montreal, the city loves the race; as for an F1 race in the US I don't think thier is enough interest here. I'd drive to Montreal to see a race again.
Reply
Tom Winch 1:47PM (8/16/2009)
I'd wager there would be more interest here if the race was held somewhere besides Indianapolis. F1 is an international race series that has races in glamorous locations, not mid-western farming towns. The US race needs to be either a street race in a city like Miami, Los Angeles, Las Vegas, or New York, someplace with international appeal, or a classic road course near a city or region with international appeal. The only tracks like that are Laguna Seca, Sears Point, Watkins Glen, or Lime Rock.
EEL 3:59PM (8/16/2009)
@ tom winch,
Yeah, Indy ain't much compared to the U.S.'s more glamorous cities (personally I would prefer a street race along Lake Shore Dr. and Grant Park in Chicago, but I digress), but in terms of total race weekend attendance, Indy easily was in the top 5 every year that it was held (even during the "Father's Day Massacre" in 2005, http://en.wikipedia.org/wiki/2005_United_States_Grand_Prix).
Now that Tony George has been told to take his toys and go home to play, maybe we can get the same deal as Montreal on a short term basis until another U.S. city gets a plan together to meet FIA standard just to host a race. Sure it's nice that IMS is only a 15-20 minute drive from my house but IMHO, IMS has never done enough to draw more racing series to race there to generate revenue for the track and the community (at least we have MotoGP now, but where is SBK, Rolex, Grand-Am, ALMS, etc., and WTF is going on with the crapwagons of yesteryear known as IRL and the "Crapwagons Of Today" (I meant COT) known as NASCAR?).
Level 1:58PM (8/16/2009)
WTF?? Is There that much money on 1 single F1 race to be made? Just for the rights to the race ot be held cost 100M on top of all thats needed to make the race happen? How much money do these people actually make on any given race???
No wonder F1 will never come to the USA with such cost and fees to hold 1 single event...
Reply
FamilyGuy 2:04PM (8/16/2009)
There is a bigger shocker. NOT!! Good for the City of Montreal to stand their ground from money hungry Bernie. Now all we need is F1 to come back to good ole' US of A.
Reply
Weaksauce 2:36PM (8/16/2009)
This is a good gesture on Bernie's part to show he's not all idiot.
Maybe he's thinking of advertising dollars from Best Buy and Youtube.
I don't know. I'm just excited. Indy is really close ( Cincinnati ), but I'd drive to Montreal for a race weekend.
Reply
why not the LS2LS7? 4:40PM (8/16/2009)
An actual smart move. I'm glad to hear it.
Bernie needs to make a few more concessions to make sure there are enough races in key regions in the next few years. I know F1 will never run 90% of their races in Europe again, but if it drops to 30% it won't be sustainable.
Reply
XGM 12:48AM (8/17/2009)
Make it happen, because ill be there for sure if it does.
Reply