F1 Canadian Grand Prix in Jeopardy for 2021; Turkey In the Wings

• Promoters in Canada are unsure they can pull off a F1 race without spectators in 2021.

• Canadian governments are being asked for additional funding to help offset the cost of lost revenue from ticket sales.

• A hurdle which might be as big as the funding is the strict COVID-19 travel restrictions in place for Canada, which call for a seven-day quarantine upon entering the country—a non-starter for F1 teams and officials.

Formula 1 is anxiously waiting an answer this week about whether the Canadian Grand Prix, scheduled for June 13, can go ahead. It is anticipated that if Montreal is canceled, the date will be given to Istanbul Park in Turkey.

Istanbul Park has become a handy go-to replacement venue for Formula 1. The circuit was not on the original schedule for 2020, but was added as races were canceled due to the COVID-19 pandemic. Lewis Hamilton won the race in Istanbul on Nov. 15.

As for Canada, the Canadian race is largely funded by government money from federal, provincial and local levels. These provide around $10 million a year, with the Canadian government believed to pay $5 million, the Quebec province $4 million and the city of Montreal $1 million.

The rest of the money comes from private sources, notably the Tourisme Montréal organization, which is a non-profit entity with around 900 members that promote the city as a tourist destination. This is believed to provide $5 million, while Octane, the race promoter, raises the remaining money required by selling tickets, food and drink and raising money from partners and sponsors. The problem is that if there are no spectators, there is no reason for any of those involved to invest, and Octane cannot raise its share because it will have very limited revenues.

The Canadian media is reporting that Octane has asked the authorities for an additional $5 million in order to balance the books this year, although the promoter is not saying anything publicly. The problem is that with the COVID-19 pandemic, Canada has plenty of other uses for government money.

The Formula 1 Group in London is refusing to reduce the contracted fees, which is not surprising given the losses made last year and the fact that going to Istanbul can provide revenue with lower costs involved.