Ecclestone to see $10m Canada GP rescue plan

Thu, 13 November 2008, 11:57

Nov.13 (GMM) The alliance of Montreal hoteliers has agreed to apply a one per cent ‘grand prix’ tax to the price of rooms in an effort to rescue the axed Canadian formula one race

According to the French language newspaper La Presse, the Montreal hotel association will increase the room tax from three to four per cent, with the extra money to go to the organisation of the annual race held at the nearby Circuit Gilles Villeneuve

The newspaper said the proposal could generate up to $5 million per year

With the Quebec and Canadian governments each promising $2.5 million apiece, the grand prix bailout pool would therefore be set to double to $10m

The rescue plan will reportedly be presented to F1 chief executive Bernie Ecclestone in London next Thursday

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