December 18, 2017 3:56 pm
Updated: December 18, 2017 4:01 pm

Montreal mayor cancels Formula E over cost overruns, sponsorship woes

ABT Schaeffler FE02 driver Lucas Di Grassi, of Brazil, sprays champagne on the crowd after winning at the Montreal Formula ePrix electric car race, in Montreal on Saturday, July 29, 2017.


Montreal’s mayor has decided to cancel the controversial Formula E race.

READ MORE: Montreal’s Formula E run-up has drivers seeing red

Valérie Plante says cost overruns and sponsorship woes are two of the reasons for the decision.

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READ MORE: Businesses not seeing same excitement behind Formula E compared to F1

She told reporters at city hall Monday afternoon keeping the event in 2018 would cost taxpayers between $30 million and $35 million.

READ MORE: As the Formula E electric car race kicks off, the question is: Was it all worth it for Montreal?

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.

WATCH BELOW: Controversy over the Formula E

Plante says the only way the race can return is for the city to clean house and work on a better business model.

READ MORE: Streets in downtown Montreal to reopen after Formula E race

The mayor says her party started looking into the file as soon as it won November’s election.

© 2017 The Canadian Press

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