The Edmonton Journal reports that last July's IndyCar Series race lost $3.9 million Canadian ($3.7m USD). The paper says civic officials expected a shortfall of about half that amount, but that revenues for the event came up short because of the economy and lower-than-anticipated grants from the provincial and federal governments.
The city has one year remaining on its three-year contract with the Indy Racing League for the event based at Edmonton's City Centre Airport. City council member Kim Krushel told the Journal that penalties in the contract would make it prohibitively expensive to break the deal early, but she isn't sure the arrangement should be renewed.
"The jury is out for me whether we should continue beyond 2010 if we can't bring the cost down – closer to breaking even," she said.