Raceline Radio Network Newsletter... the Canadian GP is dead

From Erik Tomas, Raceline Radio

The Canadian Grand Prix is dead!

And you can pin the murder directly on the man who makes millions everyday off the avails of Formula One, the man who controls the commercial rights to the races for a group of banks, Bernard Ecclestone!

Despite efforts by the Montreal Hotel Association to kick in additional millions through a hike in room taxes, Quebec Premier Jean Charest confirmed this week all efforts to save the Canadian Grand Prix in Montreal have failed, and the race is gone.

Mayor Gérald Tremblay and Quebec Economic Development Minister Raymond Bachand addressed the situation at a media conference in Montreal. They declared Ecclestone's price tag to restore the race to the 2009 schedule unreasonable and out of reach of taxpayers.

Gerry and Ray were the guys who also travelled to Europe to meet with the Bernie after the race was scuttled. At that time, it appeared the GP might just return after all.

Ecclestone and The FIA stunned Montreal promoters and fans early last month by releasing a schedule for 2009 that didn't include Montreal.

Ecclestone said contractual issues were behind the decision and the promoter owed back fees, something that was denied by the local promoter.

The 9th wealthiest man in the U.K wants 175 million guaranteed over 5 years, plus profit from track advertising and corporate box sales to bring the race back.

The City, Quebec and Federal governments offered 110 million, plus 75% of the first 10 million in profits, and 25% of any profits over 10 million.

And the pint-sized dictator turned the offer down!

You see, he holds all the cards. He can get what he's asking for from Middle and Far East nations who want races with no hassle at all, so why would he give a damn about Montreal and the fans?

The Canadian Grand Prix was the largest tourist and sporting event in Canada, drawing more than 300,000 fans, earning between 75 and 100 million in tourism trade and commerce. The race also pulled some of F-1's highest TV numbers.

It simply got to the point where Ecclestone's price tag just got too high to be sensible, and his greed digestible.

With the North American economy in crisis with job losses and plant closings becoming epidemic, spending 175 million over 5 years on an automobile race to make Bernie Ecclestone richer, while Canadian companies are looking for bail-outs using tax payers money would have been incredibly irresponsible!

It's rare I side with bureaucrats, and it's indeed tragic we've lost this race, but I have to applaud the government for not bending over to buy into Ecclestone's money-grubbing tactics.

Remember too, there's a Quebec provincial election coming and nobody wants this hot potato in their lap. Over spending by politicians is a very sensitive issue.

So, painfully, 2009 will be the first year since 1987 that Canada will not be hosting a Formula One race, and the first time in 40 years there won't be an F-1 race in North America.

And what about the Constructors? North America is the largest market for many of the F-1 manufactures in the sale of Honda's, Toyota's, BMW's, etc. They want 3 races in North America. Now they have none!

I think it's time the Constructors dusted off their old idea of breaking away to start their own series, because this money monster with Ecclestone at the helm isn't working for them!

Until next time…

ET