Montreal agrees to a $3 million increase in fees to maintain the Formula 1 race.

      "We’re discussing the sustainability of a significant event."

      Canadian organizations will invest more than before to retain Formula 1 in Montreal, and a portion of this new expense will be transferred to the spectators. As Le Journal de Montreal had forecasted a day earlier, F1 and the local race promoters Octane confirmed on Tuesday that they have successfully secured a contract extension that runs through 2035. The newspaper stated that this event is now one of the most stable races on F1’s busy 24-race schedule. "Miami (2041), Australia (2037), Bahrain (2036), and Madrid (2035) have longer agreements," Le Journal pointed out.

      The publication was also ready with the financial specifics of the new agreement, as Ottawa, Quebec, Tourisme Montreal, and Societe du parc Jean-Drapeau collaborate to finance the event. The final race under the current contract will take place in 2031, costing the promoters $26 million just for the race fee owed to Liberty Media-owned F1. "This amount will then increase to about $29 million annually from 2032 to 2035," Le Journal de Montreal disclosed. "The Montreal race will therefore align with the average of the deals made by the other 23 promoters on the calendar."

      Quebec politician Carlos Leitao defended the expenditure. "We’re considering the sustainability of a significant event," he remarked. "If I evaluate it from an economic perspective, the economic returns vastly exceed the investments." Tourism minister Caroline Proulx added that the tourism-related spending alone yields a benefit of $1 billion. "That’s not insignificant," she stated.

      Furthermore, the EFE news agency reported that the government of Thailand on Tuesday officially approved a $1.27 billion proposal to host a F1 race on the streets of Bangkok from 2028 to 2032. Regarding the additional cost of maintaining F1 in Canada, it seems that spectators will bear part of the burden. Le Journal de Montreal noted that ticket prices for two specific grandstands will increase by $90 and $140, respectively, starting in 2026.