Montreal gets new 10-year F1 deal

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The Canadian Grand Prix will remain on the Formula 1 calendar until 2024, after agreeing a fresh deal with the sport's commercial chief Bernie Ecclestone.

Once finalized, the $160 million government-backed agreement will secure the Montreal race for the next 10 years, but will require the Circuit Gilles Villeneuve to redevelop its pit garages.

Race promoter Francois Dumontier said that "between 25 and 40 million Canadian dollars" ($23m-$37m U.S.) would be invested in the upgrade, which will be implemented in time for the 2017 race and also improve the circuit medical center.

"We need to deliver the new garages for the grand prix in 2017, so we need to start working on plans soon, and start work on the garages after the grand prix in 2016," he said. "It's a challenge because we're on an island surrounded by water, so we'll need to be creative and use all the imagination we have, but I'm sure we'll succeed."

In return, the circuit will take a larger share of race ticket sales than under its previous agreement.