The Vancouver Sun reports that the Edmonton round of the IZOD IndyCar Series, which had been rumored to be in jeopardy, is set to continue for t least the next three years following a vote of city leaders to negotiate a contract extension with the Octane Racing Group. Octane, which manages the Canadian Grand Prix, has taken over management of the event from the Northlands organization, whose three year contract expires with this weekend's race.
Northlands had reportedly run up a loss during those years of $9.2m Canadian, but Edmonton Mayor Stephen Mandel told the Sun that the gains for the city from the event were worth the costs. He also noted that Octane has proven able to secure Canadian federal government support for major racing events.