Montréal, April 28, 2021 - The governments of Canada and Quebec have finalized an agreement with Formula One World Championship (FOWC) to ensure the return of the Formula 1 Grand Prix du Canada and its extension into 2031, two years beyond the current agreement.
Due to the health measures in place to fight COVID-19, the Grand Prix du Canada is being cancelled for a second year in a row. The event will nonetheless return next year and will be held as outlined in the contract among the partners and the FOWC.
Under the agreement, the Grand Prix du Canada à Montréal will be held into 2031, and the partners commit to spending $25 million and $26 million respectively for the 2030 and 2031 editions.
Furthermore, the governments of Canada and Quebec will make major investments to promote Montréal and Quebec internationally to bring tourists back to the metropolis once health conditions make it possible. Up to $5.5M will be invested by both levels of government in promotional efforts among Formula 1 fans, who generate significant spin-offs for Montréal's businesses and economy.
The Minister of Economic Development and Official Languages, the Honourable Mélanie Joly, the Minister of Economy and Innovation, Pierre Fitzgibbon, the Minister of Tourism and Minister Responsible for the Lanaudière Region, Caroline Proulx, the Minister for Transport and Minister Responsible for the Metropolis and the Montréal Region, Chantal Rouleau, and Montréal Mayor Valérie Plante made the announcement today.
Quotes
"COVID-19's repercussions on the tourism sector have been severe. Canada is nonetheless preparing to welcome visitors from home and abroad once the health situation makes it possible to do so. The commitment our government is making today by renewing its support for the Grand Prix du Canada for two additional years attests to the importance we place on tourism's role in our country's economic recovery. We will make the strategic investments needed to create jobs for Canadians and to help our entrepreneurs so that our economy can come back in full force once we have come out of this crisis."
The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for Canada Economic Development for Quebec Regions
"The Grand Prix du Canada generates significant economic spinoffs, making it necessary to ensure its return next year and its sustainability in the long term. We have come to a good agreement, and all of Quebec will come out a winner."
Pierre Fitzgibbon, Minister of Economy and Innovation
"The Grand Prix is the largest sports tourism event in Canada and has become the kick-off for Montréal's major summer festivals. With the Gilles-Villeneuve circuit offering breathtaking views of the city, related activities bringing our streets and businesses to life and global media coverage, the Grand Prix week showcases, for the entire world to see, all of the attractions of Montréal as a destination. Due to the health measures in place and all the logistics around the event, it would have been difficult to hold it this summer. However, I am delighted that it will return in full force as of next year and extend into 2031 thanks to the joint support announced today."
Caroline Proulx, Minister of Tourism and Minister Responsible for the Lanaudière Region
"Sports and cultural events are part of Montréal's DNA and, as such, the vitality of our metropolis is affected by our collective efforts to fight COVID-19. In these circumstances, I am truly proud that we can guarantee the Grand Prix's return for several years still. Together, we will vanquish the pandemic and we will be able to welcome once again visitors from around the world."
Chantal Rouleau, Minister for Transport and Minister Responsible for the Metropolis and the Montréal Region
"Of course, we would have liked to see the Grand Prix take place this year. But the good news is that Montréal will not lose its 2020 and 2021 Grand Prix editions, as they are being added to the end of the agreement, for the years 2030 and 2031."
Valérie Plante, Mayor of Montréal
"The Formula 1 Grand Prix du Canada à Montréal is a unique tourism event for our metropolis, given the major economic spinoffs from international visitors. The amounts being granted to bring visitors back to the event site, once conditions make it possible to do so, will help the metropolis to regain its status as one of North America's most prized destinations."
Yves Lalumière, President and CEO, Tourisme Montréal
"Although it is difficult and disappointing to face such a conclusion for the second year in a row, the health and safety of Montréalers, Quebecers and Canadians are and will always be the priority. I want to highlight the collaboration among public health, government and municipal authorities in recent months, and I am delighted with today's news confirming the extension of the agreement with Formula 1 into 2031."
François Dumontier, President and CEO, Formula 1 Grand Prix du Canada
"It is disappointing for us to not be able to be in Canada this year, but we are already looking forward to returning next year. Canada is a fantastic step in our season, where we find tremendous fans and a circuit that lends itself to captivating races. We will be back in 2022 to offer some truly thrilling moments in Montréal."
Stefano Domenicali, President and CEO, Formula 1
Quick facts
- On October 31, 2017, a memorandum of understanding arose between the Société du parc Jean-Drapeau (SPJD), the governments of Canada and Quebec and the Office des congrès et du tourisme du grand Montréal to ensure the Grand Prix du Canada à Montréal would be held into 2029.
- The commitment announced today by the two levels of government and the Ville de Montréal will enable the agreement on holding the event to be extended for two more years.
- Funding is conditional on the signing of contribution agreements among the SPJD and the different funding parties.
