Montreal faces $75m loss after snub

MONTREAL: Montreal faces losses of up to $75 million after Formula One's governing body, the FIA, excluded it from next season's Grand Prix circuit, according to the city's mayor on Tuesday.

At an earlier meeting in Paris, the FIA awarded United Arab Emirates city Abu Dhabi its first ever race in place of Canada for the 2009 season, without giving any further details about its decision.

Montreal mayor Gerald Tremblay, speaking on Radio-Canada, said: "We are talking economic consequences in the region of $75 millions - which are big losses."