F1: New 10-year deal for Grand Prix of Canada looking good

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From the recent conversations Auto123.com has had with sources close to the Canadian Grand Prix, we undertand that the new 10-year contract with the owner of the F1 commercial rights is virtually a “done deal.”

Insiders have told us that although the final contract has yet to be signed, discussions are finished and the different parties involved are just waiting for the right moment to announce it.

There was a change of government in Quebec back in September, and we've been told that talks with the new politicians in place about the new contract for the F1 Grand Prix have gone very well.

Photo: WRi2

From what we've learned, Bernie Ecclestone is not looking for extra money to stage the race at circuit Gilles-Villeneuve. He'd be satisfied with the current $15 million annual fee. However, it is true that he asked a long time ago that the facilities be upgraded.

Auto123.com has been told that the numerous parties involved in that issue have all agreed to each invest some money to erect a brand new pit complex (garages, medical centre and control tower). Plans and budgets need to be accepted first.

We understand that an official announcement should be made in the not too distant future.