Links - Canada back on the Formula One schedule beginning - North River Minor Hockey Association

Canada back on the Formula One schedule beginning in 2010 LOGINREGISTERHELPYOU ARE NOT LOGGED IN NHLNBAMLBCFLNFLCurlingTennisGolfSoccerNASCARFormula OneIndyCar NASCAR Canadian Tire SeriesNationwideCamping WorldAuto RacingWorld JuniorsSpengler CupMenS WHCWomenS WHCHockey CanadaAHLBoxingCanada GamesCHLCISECHLFigure SkatingLacrosseMMANCAASkiingSummer SportsWinter SportsMoreOlympicsFantasyDaily LineShowsTSN TalentCommunityMainScheduleStandingsChampionsAllTime WinsBMWSauber Brawn GP Ferrari Force India McLaren Red Bull Racing Renault Toro Rosso Toyota Williams Teams Auto Racing on TSNeotText SizeMONTREAL The Grand Prix is returning to Montreal which spells good news for local merchants who admit they felt the pinch when the glitzy race took off to Turkey last JuneConsidered a cash cow for restaurateurs along the citys famed Crescent Street party district the weeklong Formula One event was known for drawing a whos who of glamorously trashy American and European tourists with cash to burnBut the 2009 event was moved after the city refused to meet F1 boss Bernie Ecclestones price tag $175 million over five yearsOn Friday federal provincial and municipal officials announced they reached a deal to bring the Formula 1 back at the relative discount price of $75 million in public tax moneyThe race will return to the GillesVilleneuve circuit next June 13 and every year after that until 2014Today Formula One says yes to Montreal and Montreal says yes to Formula 1 but not at any price Mayor Gerald Tremblay said during a news conferenceWe wanted a world class event but we wanted that our investment respect the capacity to pay of our taxpayersUnder the deal the federal government and Montreals tourism bureau will each kick in $25 million over five years while the province will spend $20 million and the municipal government will contribute $5 millionIn return the city and its partners will receive a 30 per cent share from ticket sales The event is expected to generate $18 million in federal and provincial tax revenue each year overall economic spinoffs of $89 million and 75000 overnight hotel staysThis is a winwin situation for the Quebec taxpayer for the Canadian taxpayer Quebec Finance Minister Raymond Bachand saidFew Montrealers blamed the city for losing the race which had been a mainstay since 1978 Despite the lost revenue most merchants dismissed Ecclestones demands as being unreasonableStill the Grand Prixs absence coupled with a rising Canadian dollar a global economic crisis and lousy spring weather took a nasty bite out of already slumping businessesIt prompted some merchants to make concessions or even close their doors for goodRonnie Haq of Los Tios TexMex Grill said his restaurant had to cut its prices by about 10 per cent Meanwhile summer revenues were down about 20 per centIt hurt the business he said Definitely were loo...