The Canadian Grand Prix is ready to be cancelled for a second yr in a row in keeping with La Presse, with talks about extending the race’s contract underway.
The COVID-19 pandemic appears to be like to have shattered hopes of the Canadian race returning to the calendar this yr, with the occasion scheduled for June 13 set to be formally known as off later this week.
System 1 had hoped to obtain an exemption from journey restrictions which might enable the race to happen behind closed doorways, however haven’t but obtained affirmation from public well being authorities in Quebec and Ottawa.
The choice has since been taken to cancel the race, with Turkey the leading candidate to fill the vacant June slot.
Because of indisputable fact that consecutive occasions is not going to happen, F1 and the organisers of the Canadian Grand Prix are in talks about extending the race’s contract for a further two years, taking it up till 2031.
The settlement shouldn’t be but finalised resulting from issues over the fee, with F1 conscious race in 2030 or 2031 is value greater than a race in 2021 due to inflation.
Based on La Presse, the federal government’s of Montreal, Quebec and Ottawa can have paid a median of $18.7 million per yr to F1 between 2015 and 2024 to host the Canadian Grand Prix, with that anticipated to rise to $19.7 million between 2025 and 2029.
Subsequently, an settlement over any potential further price should be met earlier than the race’s contract will be prolonged.