- Octane Racing Group to continue to act as standalone entity
- Bell's TSN and RDS recently secured F1 broadcast deal until 2024
Canadian media giant Bell has agreed to acquire Octane Racing Group, the promoter of Formula One's Canadian Grand Prix.
The Montreal-based race was cancelled in 2020 and 2021 due to the impact of the Covid-19 pandemic, but Bell has moved to reassure fans over the 2022 edition. The media company will ensure that tickets sold for the cancelled 2020 event will be available to roll over to the 2022 race or refunded. Tickets were not yet sold for the recently cancelled 2021 race.
Octane Racing Group will continue to act as a standalone entity within the Bell group of organisations.
The deal also lengthens Bell's tentacles into Formula One, with its sports networks TSN and RDS long-term broadcasters of the series having recently secured an extension of their rights deals until 2024.
"A world-renowned event that promotes Montreal at an international level, the Formula One Canadian Grand Prix is hugely popular in Quebec and throughout Canada," said Karine Moses, Bell's vice chair.
"This transaction confirms Bell's commitment to deliver the most compelling content across every platform while increasing our presence in the Quebec media marketplace through significant investments in culture, sports and entertainment.
"As a Montreal-based company and Canada's top sports content provider, Bell can't wait to see the Grand Prix back in 2022.
"We welcome the Octane Racing Group team and look forward to amplifying this iconic Montreal event over the long term with Bell's leading network, broadcasting and digital assets."
The 2021 Formula One season continues from 7th to 9th May at Circuit de Barcelona-Catalunya.