$3M will end city’s obligations to Formula E
The city will be forking over $3 million to Formula E to end the obligations created by Denis Coderre’s flirtation with the event.
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Bert 14:07 on 2021-07-12 Permalink
While the obligations were created under DC’s reign, it was VPs that caused to obligations to need to be respected. Of course, history is written by the victor.
Daniel D 14:22 on 2021-07-12 Permalink
This older article (https://www.cbc.ca/news/canada/montreal/formula-e-race-cancelled-financial-picture-1.4453864) seems to indicate each Formula E event would have cost “up to $35 million” for the second event, with inflation presumably kicking in for subsequent events.
Given the amount they were trying to sue VP for, and the fact she negotiated it down to just $3 million, sounds like it was the right call.