The Canadian Grand Prix was dropped for the 2009 season after a deal could not be reached with Bernie Ecclestone. However, after the governments of Canada and Quebec, Montreal, in collaboration with Tourisme Montreal, helped to put together a $4 million annual investment plan, a deal has been agreed that will see the Montreal race on the F1 calendar for the next five seasons. In return, the partners will take 30 per cent of the profits from ticket sales of the race.

The decision sees Formula One return to North America, after being absent for the first time ever in 2009. Montreal’s mayor Gerald Tremblay was delighted, and said, "The return of the Formula 1 to Montreal attests to our sustained efforts and determination. This win-win deal falls in line with the terms we set and the taxpayer's ability to pay and will create stability for the next five years. I am very pleased that our metropolis is bringing back this crucial stage in the Formula 1 series for fans from around the world and an outstanding opportunity
in terms of the event's international reach."

Quebec minister of finance and minister responsible for the Montreal region, Raymond Bachand said, "For Quebec, this event by itself results in annual tax revenues of more than $10 million, for a $4 million investment, minus revenues from ticket sales. All three levels of government have worked together tirelessly over the past few months to bring the grand prix back to Montreal, while acting in a financially responsible manner. With this agreement in hand, I am delighted that our efforts have finally succeeded."