Canadian levels of government are willing to put money into the rescue of the formula one race at Montreal.

That is the information of the French language Journal de Montreal newspaper, which had earlier said an official decision and announcement was due on Friday.

But without a private body ready to commit to taking over from outgoing promoter Grand Prix F1 du Canada, run by Normand Legault, an official declaration about the government's intend was not made.

The newspaper also said Legault may remain involved, on a board of directors of a new organisation to be formed.

It is possible that Cirque du Soleil's Guy Laliberte will be involved, but NASCAR team owner George Gillett is believed unlikely to contribute financially.

Source. GMM