Canadian Grand Prix | François Dumontier hands over the wheel

François Dumontier’s adventure at the Canadian Formula 1 Grand Prix is ​​over, it has been learned The PressThree years after selling Octane Racing Group to Bell, the entrepreneur is leaving his position at Octane and handing over the wheel to a duo formed by a long-time collaborator and an executive from the telecommunications conglomerate.

This change of guard nevertheless comes less than two months after the holding of a race marked by failures, which earned the organizers of the event strong criticism. The big boss of Formula 1, Stefano Domenicali, had also apologized to the various teams.

Despite everything, Mr. Dumontier, 57, who has worked at the Canadian Grand Prix for 30 years, believes he is leaving with a “feeling of duty accomplished.”

“Bell’s arrival has given us the oxygen we needed,” he wrote in an open letter released Friday. “There is still much to be done, of course, but the foundations have been laid for the next generation.”

Read François Dumontier’s letter

Mr. Dumontier will be replaced by Jean-Philippe Paradis, who will become President and CEO of Octane. The latter will retain his role as Vice-President at Bell Media. For her part, Sandrine Garneau, currently General Manager, Brand and Strategy at Groupe de course Octane, will move up a rank and become Chief Operating Officer of the company.

Several failures

The most important tourist event in Canada with economic spinoffs of 67 million, the last Canadian Grand Prix, which took place from June 7 to 9, was marred by a series of blunders. According to the specialist magazine Motorsportthe case prompted the International Automobile Federation (FIA) – the umbrella organisation for motorsport – to blame Octane.

The list of things the promoter was accused of was long: problems accessing the site, spectators turned away because of erroneous information, a massive intrusion of the public onto the circuit before the end of the event, as well as water infiltration into the television studios and other spaces reserved for the media around the Gilles-Villeneuve circuit.

Octane did not have control over all of these elements, however. For example, for water infiltration, it is the City of Montreal and the Société du parc Jean-Drapeau who are responsible for maintaining the race site.

The media coverage of the affair nevertheless irritated the Legault government.

“I am very embarrassed by the international image of Quebec and Montreal,” reacted Quebec Minister of Tourism, Caroline Proulx, on June 13, on the sidelines of a meeting of the Council of Ministers.

Long journey

If he steps down as the main person responsible for the Canadian Grand Prix, Mr. Dumontier will remain a “strategic advisor” at Octane in order to ensure a “smooth transition” internally. Nevertheless, the entrepreneur will be turning an important page in his professional life.

His first steps at the Canadian Grand Prix date back to 1994, as operations coordinator. He was number two at the event for a long time, at the time when Normand Legault was the local promoter.

In 2009, due to a lack of agreement with governments on subsidies, F1 skipped Montreal. Upon his return in 2010 – with a new agreement with governments – Mr. Dumontier became the local promoter of the Canadian Grand Prix through his company, Octane.

With the cancellation of the event in 2020 and 2021 due to the pandemic, Octane was unable to generate revenue from the race for two years. In April 2021, Mr. Dumontier sold Octane to Bell, who became the local promoter of the event. He followed his company and retained his title of President at Octane.

The country’s largest telecommunications company is also signing a two-year extension with F1 to remain the local promoter of the Canadian Grand Prix until 2031. Bell’s TV channels, RDS and TSN, have broadcast F1 since 1994 and 1992 respectively.

In 2021, it was reported that the entrepreneur would remain in his position at Octane for the long term. The partnership would finally end after just over three years.

“I am handing over the management of an event that is in very good financial health and more popular than ever,” said Mr. Dumontier, without referring to the failures that occurred last June.

What does Octane actually do?

As promoter of the Canadian Grand Prix, Bell/Octane covers the costs of staging the event and receives local revenues from the event, such as ticket revenues and on-site food and beverage sales. It must share a certain percentage of local revenues with F1. It receives nothing from global revenues (e.g., television rights).

In addition, the local promoter is not a party to the contract between F1 and governments, which pay annual rights to F1 owners (Liberty Media) to be able to present a race in Montreal. Ottawa, Quebec and Montreal will pay 25 million in 2030 and 26 million in 2031. Bell/Octane receives none of this money.

The acquisition of Octane allowed the telecommunications conglomerate to add another string to its bow. Bell is already a minority shareholder in Groupe CH and owner of the Montreal Canadiens, the Bell Centre, Équipe Spectra and the promoter evenko. It manages a number of concert halls and festivals in addition to owning other festivals, such as Osheaga.

In addition to F1, François Dumontier is also involved in the organization of the International Bromont, an international-calibre equestrian competition held in Quebec.