Canadian officials blamed the 'unreasonable demands' of Formula One boss Bernie Ecclestone after last-ditch talks to reinstate Montreal's Grand Prix next year ended in failure.
The officials had hoped to persuade the Briton to reinstate the race in
Montreal Mayor Gerald Tremblay, who said last month after meeting Ecclestone that he was hopeful a deal could be done, recognised that the talks had come to nothing.
"Despite our endeavours and those of the business community, the unreasonable demands of Formula One exceeded the taxpayer's ability to pay," he said in a statement on the city's website (www.ville.montreal.qc.ca).
The statement said Ecclestone had made a final contract offer on Oct. 28 demanding that an eventual promoter put up a government or bank guarantee of some $175 million over the next five years.
It said no private promoter was willing to take on such a level of risk, considering the limited revenue generated by the event.
"We cannot meet Mr. Ecclestone's unworkable demands," he added. "Unless he eases his requirements and adopts a different approach, there will be no Grand Prix in
Canadian public works minister Christian Paradis said the race was a loss for all Canadians but Ecclestone had made 'unrealistic demands'.
"As I recently said; 'yes to a Grand Prix, but not at any price,'" he added.
Canadian organisers denied last month that they had defaulted on payments owed to Ecclestone for past hosting rights, while recognising a 'commercial disagreement' over the 2008 race.
The decision to drop
Date created : 2008-11-17