Montreal, June 9, 2017: Today it was confirmed, in a press release issued by the Quebec provincial government, that an agreement had been reached with Formula One World Championship to extend the contract for the Canadian Grand Prix until 2029, an additional five years over the previous accord.
The provincial government has made a commitment to contribute 28 million dollars as an investment in this endeavour. This is in addition to the 18 million dollars already committed by the city of Montreal towards improvements to the facility, including modernization of the facility especially new paddock improvements.
Marc Garneau, the federal minister of transport, was also present at the announcement and promised an additional 36 million in funding to support the Grand Prix in Montreal.
All told this amounts to a commitment of 82 million by all three levels of government combined.