Zoom Ongoing efforts to save the Canadian Grand Prix

Following reports that the Montreal hotel association agreed to a one percent increase of the room tax in order to help finance the Canadian Grand Prix, government officials have confirmed that a new offer has been made to Formula One CEO Bernie Ecclestone.

It is believed that money raised from the tax, added to the amounts pledged by the governments of Canada and the province of Quebec, brought an estimated $10 million to the negotiations.

"There is a limit to what we can bring to the table," said Raymond Bachand, the Minister of Economic Development for the Province of Quebec. Talks are ongoing with Ecclestone, who for the time being has been "uncompromising."

"We will know over the next few days," Bachand added. "It is not something that will take two or three weeks. Within a week at maximum it will be settled. "

The efforts put forth by the federal and provincial governments to bring Formula One back to the famous circuit Gilles-Villeneuve, as well as those provided by the city of Montreal, must also ensure that the plan works for "the future organisers of the Grand Prix and the citizens of Quebec and Canada," insisted Bachand.

Jean Charest, the Premier of Quebec, reiterated that the size of the offer "must remain an amount that will respect the fact that for the taxpayer, it must be profitable."

If the Canadian GP is not reinstated, there will be no North American destination on the 2009 Formula One calendar.

Daniel BASTIEN
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