Canadian GP's rescue hopes

Canadian Grand Prix officials have insisted that attempts to secure their race on the 2004 calendar are not over yet, despite the collapse of a high-profile rescue bid last weekend, according to this week's AUTOSPORT magazine

Nov 6, 2003, 11:24 AM

Brewery giant Molson and businessman George Gillett had been in talks with GP bosses and Formula 1 supremo Bernie Ecclestone in a bid to find the estimated £6-13m required to compensate teams for running without tobacco sponsorship.

But it is understood that, despite the best efforts of race promoter Normand Legault, Molson and Gillett have abandoned the plans because of the huge amount of revenue that needed to be raised. It is also believed that there were issues concerning the ownership of the race itself.

But despite the failure of this bid, a high level source told AUTOSPORT that suggestions that the race could not be saved were "just rumours."

He said: "At this point, nobody is out and negotiations are still on between our party and FOM [Formula One Management]. It would be premature to take the Canadian GP off the provisional calendar."