The Speed web site is reporting that an announcement is imminent that Montreal is officially, officially, officially back on the Grand Prix circuit for 2010.
But according to the story, Bernie Ecclestone is still up to his old tricks. Apparently, the last and final stumbling block is his insistence that he not pay any federal tax on the moneys he receives to bring an F1 race back to this continent.
Somebody should tell Bernie that everybody in Canada has to pay taxes. You even have to pay taxes in Canada after you’re dead (as anybody who’s ever had to settle an estate knows).
Ottawa had better be really careful about how they handle this, because if it’s true and they go along with this demand and the word gets out, I can just see every other professional sport operating in this country demanding the same ( or nearly the same) treatment.
I say to Ottawa: tell Bernie to buzz off.
Guess Bernie is attemtping to position the Canadian Government as the bad guy when the race doesn't happen.
Posted by: Fisherman | 10/22/2009 at 06:14 AM
Norris, please read ALL the info available on the net and not just a Speed "News for dummies" report. Bernie will pay tax in the UK as per the Canada-UK tax treaty. Obviously, this is beneficial to him/his company but seriously your premature pontifications are getting tiresome!
Posted by: Don in Calgary | 10/22/2009 at 10:20 AM
Just not going to happen,the tax law would have to change for all corp's and if it didn't , a smart lawyer would have all the f1 asset locked down until a court order changed it. Just like the old promoter was covered until he was payed his 10 million. So CVC are dreaming ,and if CVC want to have a F1 race in the USA again ,they are going to have to pay off the Indy people 22 million.
Posted by: dj | 10/22/2009 at 12:02 PM