Report: Edmonton Indy race may have new life Staff

11/24/2010 12:55:17 PM

According to a report in the Edmonton Journal, the city's Indy race may not yet be dead. 

Edmonton city council will decide on Friday if they want to support a deal that would salvage the race. 

Mayor Stephen Mandel is optimistic about the progress of the talks.

"I think things are moving in a very positive direction," he said. "There was very positive support from the business community." 

The City of Edmonton has said it will provide $5.5 million in sponsorship money and $1.5 million in police, transit and fire support over three years to help new promoter Octane Racing Group take over the race from Northlands.

The deal broke down when the two sides could not get together on who should cover the $3 million cost of moving the track to the east side of Edmonton's City Centre Airport.  Edmonton has spent over $12 million covering losses for the last three years of the race.