Molson trying to help Canadian GP

Although a solution is yet to be found, Molson Breweries is working with race promoter Normand Legault to secure the finances needed to confirm the Canadian Grand Prix's place on next year's calendar. The teams that rely on tobacco companies want compensation in order for them to race in Montreal without sponsor logos and Legault faces the task of finding the reported $10-20 million required.

"Molson prides itself in being an active member in the Montreal community and we saw recent events as an opportunity to once again make a meaningful contribution to Montreal," said brewery president Dan O'Neill, in a joint statement with the race promoter.

"Our objective is to have the Grand Prix return to Montreal next year and for the years to come. We intend to go on working with Normand Legault as owner and head of the Montreal Grand Prix to achieve this objective."

George Gillett, another of the group of potential investors, recently said there were no real developments in discussions. Legault praised the support the Canadian GP is being shown and especially Molson's efforts to find a solution.

"Molson has played a key role in obtaining an extension of the deadline to reinstate the Montreal Grand Prix on the F1 calendar," he said. "And Dan O'Neill has been instrumental in searching for the additional funding needed to stage the event in 2004."

Selling the franchise for the race is one option but for the moment Molson is working along side Legault. The statement added: "Several solutions are being explored concerning the funding of the event and current discussions do not include a change of ownership as a condition for staging the Formula One race."

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