Clarification Note from Grand Prix F1 du Canada

REGARDING ALLEGATIONS FROM BERNIE ECCLESTONE

Montreal - Contrary to allegations made by Bernie Ecclestone regarding money owed by Grand Prix F1 du Canada for past hosting rights, the organizers of the Canadian Round of the Formula 1 World Championship would like to make clear that Mr. Ecclestone has received and accepted the terms of payment that were fully agreed to for the 2006 and 2007 events. According to Paul Wilson, Vice-President Marketing Grand Prix du Canada: "It is totally untrue to suggest that our organization has defaulted on payments owed for the past three years."

As reported this past week, Mr. Wilson continued: "It is true that we have a commercial disagreement regarding our monetary obligations, but only for 2008. This is the result of an historical difference within the contractual understanding between the two parties. We were working hard to resolved the matter in order to meet our 2008 obligations when Mr. Ecclestone, without notice, surprised everyone by unilaterally dropping the Canadian Grand Prix from the 2009 FIA schedule last October 7."

"We believe that it is important to shed the light on this matter and to clarify any allegations that could tarnish the reputation of our organization. We do not accept that the integrity of the Grand Prix du Canada should be called into question, when it is evident that the table is being set for new negotiations with different levels of the Canadian government," concluded Mr. Wilson.

-credit: hkdp