Montreal investors get behind Canadian GP bid

The Molson brewery and George Gillett, the founder of the CART Denver GP and co-owner of the Montreal Canadiens NHL team, are among a group of willing investors which is now working with event promoter Normand Legault to evaluate ways of funding the F1 Canadian GP in Montreal

Montreal investors get behind Canadian GP bid

The race has been reinstated on the 2004 F1 calendar on condition that a compensation package is offered to the tobacco-sponsored teams, which would be unable to run with cigarette branding. Estimates suggest that this could cost up to £10m, and hence the need for new investment in the event.

"Several solutions are being explored concerning the funding of the event and current discussions do not include a change of ownership as a condition for staging it," Molson and Legault said in a joint statement.

Gillett added: "There certainly is an interest on the part of a small group of folks to try and save F1 for Montreal. This is a great city. It is passionate about car racing. It's passionate about its sports. That group is deeply interested and loves Montreal as much as the fans."

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