Montreal mayor cancels Formula E over cost overruns, sponsorship woes
Montreal’s mayor has decided to cancel the controversial Formula E race.
Valérie Plante says cost overruns and sponsorship woes are two of the reasons for the decision.
She told reporters at city hall Monday afternoon keeping the event in 2018 would cost taxpayers between $30 million and $35 million.
Only 25,000 tickets were sold for this past summer’s event, which became a hot potato in the fall election campaign that saw Plante defeat Denis Coderre, the driving force behind the race.
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Plante says the only way the race can return is for the city to clean house and work on a better business model.
The mayor says her party started looking into the file as soon as it won November’s election.
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