As the Formula One world gathers in Montreal, the future of the Canadian Grand Prix remains in doubt. Two months ago, race promoter Francois Dumontier said it was imperative that a new deal beyond 2014 be agreed upon before this year's event at the Circuit Gilles Villeneuve.

He said negotiations with F1 chief executive Bernie Ecclestone for a new 10-year contract are taking place, but nothing has been signed. According to the French-language newspaper La Presse, all parties need to agree, including Dumontier, Ecclestone and the various levels of government that help the fund the race.

"Negotiations are going very well," said a spokesperson for Dominique Vien, the new tourism minister of Quebec. "The change of government has not had a negative impact. We will announce it when everyone is ready."

Denis Coderre, the mayor of Montreal, also commented. "I am keen to resolve the issue for the next 10 years,” he said. “Things are going well. In time, we'll make announcements, but everyone is talking and things are progressing very well. We must let time take its course."

It is reported that Ecclestone is demanding improvements to the aging circuit and facilities, and a mandatory 4 percent annual increase of race fees for the 10-year extension.

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