Maybe it’s time to move the race to Toronto before it’s too late.

Disclaimer : The text below is a copy/paste of the linked article below.

The 2015 edition of the Montreal Grand Prix didn’t make money, and it doesn’t look things will be much better in 2016 either, according to the event’s main promoter.

François Dumontier, the president and sole shareholder of Groupe Octane, told La Presse on Tuesday that even though ticket prices went up and 6 per cent more tickets were sold this year, the promoter has yet to fully pay off its suppliers to the tune of more than $100,000.

To cover the shortfall, Dumontier says the event needs a new title sponsor — something it hasn’t had since its contract with Air Canada ran out in 2003.

Come what may, however, Dumontier says he’s not in any serious financial difficulty, and that the race itself isn’t in danger of leaving Montreal. He’s slated to be the promoter of the Montreal race through 2024.

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Dumontier’s company took over the promoter’s role from Normand Legault in 2009, the last year there was no Canadian Formula One race.