Schumacher to Return

Make it official, for the reported tidy sum of US$10-million, Michael Schumacher is coming back to Formula 1 with Mercedes after a 3-year "retirement".
The deal starts off as a 1-year deal, but Schumacher is quoted as saying that "It's not a one off thing", with discusssions leading him to drive through to 2012 with the team.
The 41 year old, former 7 time world champion joins Nico Rosberg on an all German team.

F1: Toyota quits

From CBC.ca

Toyota is pulling out of Formula One racing, the world's largest automaker announced Wednesday, saying it needs to cut costs and focus on its core business.

"Based on the current economic environment, we realize we have no choice but to withdraw from Formula One," Toyota president Akio Toyoda said at a news conference in Tokyo. "This has been a very painful decision for the company."

...

Toyota made its F1 debut in 2002 but never won a grand prix. The team's best result was in 2005 when Jarno Trulli finished second in Malaysia and Bahrain.

Toyoda said the team's poor results were not a factor in the decision to leave the sport.

"Our decision would not have changed even if we had a victory," Toyoda said. "The fact that we are unable to give our drivers a chance to compete is very sad."

Full story at the link above

Globe & Mail: F1's return to Canada will be at bargain price

Manufacturers' teams were eager to have a race in North America again

By Jeff Pappone // Globe and Mail Thursday, Aug. 13, 2009

Less than a year after losing its grand prix because it couldn't afford the price tag, Formula One looks ready to return to Montreal at a relative bargain.

With the recession tempering expectations and the teams' desire to return to North America combining to force F1 commercial boss Bernie Ecclestone's hand, it is thought the deal on the table to bring the race back to the Circuit Gilles-Villeneuve in 2010 is worth about $75-million over five years.

Last fall, Ecclestone demanded a guaranteed $175-million over five years from Montreal and then axed the race when he didn't get it.

.... continued at the link above

Note: Jeff Pappone is an active Twitterer....

CBSSports: F1 in jeopardy as teams walk out of meeting in Germany

"Formula One's fragile peace deal was thrown into doubt again Wednesday when eight leading teams walked out of a meeting with the governing body after being told they had not been entered into the 2010 championship and would have no say on finalizing cost-cutting measures..."

Click here for the full story.

Negotiations back on for Montreal F1 race for 2010

Under the category, off and on more times than a light switch.... off and more more times than the next federal election.... off and on more times than Britney's gitch.... off and on more times than Jim Balsillie's purchase of the Coyotes.... off and on.... well, you get the idea.

TSN is reporting:

"Quebec Finance Minister Raymond Bachand is confirming that negotiations are underway in an attempt to bring back the Canadian Grand Prix in 2010.
Bachand said today talks are ongoing with Formula One boss Bernie Ecclestone for a potential return of the popular F1 race to Montreal.
Montreal was dumped from the circuit this year in favour of Istanbul but this month's race in Turkey was hamstrung by poor attendance.
Bachand told reporters in Quebec City the province, Ottawa and the City of Montreal are still willing to come up with financing to ensure the race returns.
The finance minister says he's confident but added that F1 has its own financial problems that need to be resolved.
The 2010 F1 schedule is to be unveiled before the end of the month."

P.S. - The story doesn't say who Bernie is negotiating with, but doesn't NASCAR have the contract to put on all races at Ile Notre Dame now?