Government officials from Montreal will fly to London today for a meeting with Formula One supremo Bernie Ecclestone in an attempt to save next season's Canadian Grand Prix.
The round was dropped from the 2009 calendar earlier this month under claims that it had not paid between $10 and $20 million of its contractual obligations in the last two years.
Bosses of the race denied that they had defaulted on payments, but admitted there was a commercial disagreement over the fee for the 2008 race and signalled their intention to hold negotiations to reinstate the race.
Ecclestone last week told autosport.com that he doubted the event would return to the schedule, but Montreal's mayor, Gerald Tremblay, and two senior cabinet ministers will meet with him this week in an attempt to change his mind.
The Quebec government is willing to offer its help to the race organisers because the event is believed to be worth around $75 million to the local economy at the beginning of the summer season.
"If we are able to reasonably and responsibly save this event, we will do it," the Quebec minister for economic development Raymond Bachand told the Montreal Gazette.
"The grand prix is a big event, it's the biggest tourism event, but how much does it bring in concretely, not only in spin-offs but in cash in our pockets as citizens, as taxpayers?
"I'm going to negotiate with Mr Ecclestone, so we will keep our cards to ourselves."
Two long-standing Formula One events have now been dropped from the calendar this month, with the French GP also removed for financial reasons.
Montreal's absence would make 2009 the first season since 1950 that the world championship would not have a round in North America.