MONTREAL -- Canada's only NASCAR race found its future in jeopardy Wednesday as the Quebec government rejected a funding request because it doubts its economic value of the event.
Developer Francois Dumontier had requested $1 million in government assistance, half each from Quebec and Ottawa, to help offset an anticipated $1.6 million deficit.
"The developer has not satisfactorily proven to the Department of Tourism that it would be profitable for them to invest in the event," said Isabelle Lord, spokeswoman for Tourism Minister Nicole Menard.
"We made an exhaustive study of the request," Lord said, explaining that the office could not justify using public funds for a project with unproven economic benefits.
"It is incumbent upon the proponent to demonstrate the economic benefits generated by the event."
Both Tourism Montreal and the Hotel Association of Greater Montreal claim the NASCAR race will generate at least $13 million worth of media coverage alone; race promoters predict revenues in excess of $25 million.
The City of Montreal's contract with International Speedway Corporation, and its promoter Dumontier, expired June 30.
This funding shortfall likely means August's Nationwide Series race will spell the end of NASCAR racing at the Gilles Villeneuve track on Montreal's Ile Notre-Dame.
It is the only such event in the country.
Montreal's mayor, however, sounded unfazed by the news.
The city reacted with horror several years ago when it lost the Formula One Grand Prix, which brings wealthy international tourists and huge parties to Montreal. The city finally got its F1 race back.
Mayor Gerald Tremblay offered no indication that city officials consider the loss of NASCAR nearly as traumatic.
"Efforts were made. It's unfortunate but maybe there will be other events in the future," Tremblay told reporters.
"It's certainly a plus for the city but there are other things that are equally important. The Quebec government always analyzes the tourism spinoffs with the federal government. That's important."