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Canada extends Formula 1 deal until 2029
Canadian Grand Prix organisers have signed a new deal that will keep the Formula 1 grand prix at Montreal until 2029.
Lawrence Barretto
Edited: Mar 1, 2017, 1:51 PM
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Talks with Bernie Ecclestone about extending the contract, which previously ran to 2024, began last year and were finalised this month.
There had been concerns about its future as the circuit had not completed upgrade work in time for this year's event.
However, organisers have reached an agreement, signing the deal following the completion of Liberty Media's takeover of F1.
Part of the deal involved the city of Montreal committing to providing the funds to upgrade the garage building, which has been in place since 1978.
"It's a long contract and one which gives us time to plan and to work on improving the facilities," promoter Francois Dumontier told Motorsport.com.
"With the new garages arriving in 2019, extending the contract was important. We will start work with the city, who own the circuit, to work on the plans and drawings and plan a construction schedule for the new garages.
"Then between the 2018 and '19 races, the construction will take place. "It will be a completely new building, with the current one removed. "
Dumontier said he has held discussions with Liberty Media, with F1's new owner saying "Montreal is important to the championship".
He added: "There are only two races in North America and we are the oldest race outside of Europe in the championship."
Canadian Lance Stroll is making his F1 debut this season with Williams and Dumontier says that has had a positive impact on ticket sales.
"They are going pretty good," he said. "We can see the Lance Stroll effect so it's a case of so far, so good."
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