The current contract will expire 2014 season, Montreal F1 race promoter Francois Dumontier says that long-term deals were becoming the trend in Formula 1.
"We are presently discussing an extension from 2015 to 2024, so ten years. That is the longest agreement that has ever been proposed to us. We had five years with options before." Dumontier said
"All new agreements now being signed are for ten years ... Ten years allows us to think long term, to think about improvements that can be brought to the circuit, about investments, etc. We are happy to work in this regard."
When asked why he thinks Formula One was starting to look more towards ten-year deals, Dumontier hinted the upcoming planned flotation on the Singapore Stock Exchange could be one factor.
"There are several reasons, but I believe they want to consolidate the good grands prix. Montreal is such a race, undoubtedly. We saw as much [at last week's race] with the full grandstands and the comments made by the drivers and teams. F1 has a project to enter the stock market. Ten-year contacts have a certain value when entering the stock market."
