Formula One: Montreal sets up new 10-year deal

Formula One: Montreal sets up new 10-year deal

MONTREAL - The Canadian Grand Prix will remain on the Formula One motor racing calendar for a further 10 years until 2024, it was announced on Saturday on the eve of this year's race.

The race organisers for the event at the Circuit Gilles Villeneuve said they had agreed an extension to their current deal with Formula One's commercial ring master Bernie Ecclestone.

Race promoter Francois Dumontier said they will be investing between 25 and 40 million Canadian dollars in an upgrade for the circuit before the race is held in 2017.

"We need to deliver new garages for the Grand Prix in 2017, so we need to start working on plans soon, and start work on them after 2016," he said.

"It's a challenge because we're on an island surrounded by water, so we'll need to be creative and use all the imagination we have, but I'm sure we'll succeed."

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