MONTREAL — Montreal’s mayor says a tentative deal has been reached to return Formula One racing to the city in 2010.

News that Ecclestone and F1 are looking favourably on Montreal was greeted excitedly by former F1 champ Jacques Villeneuve. "That’s amazing news," Villeneuve told The Canadian Press.

Montreal officials have revealed that they are trying to finalise a deal that will see Canada return to the F1 calendar in 2010.

His comments come after F1 boss Bernie Ecclestone recently told a European motor sport magazine that cars will be whizzing around the Circuit Gilles-Villeneuve in Montreal in 2010.

There will be 19 F1 races in 2010, beginning with the Bahrain GP on March 14 and ending in Brazil on Nov. 14. South Korea is set to host its first F1 race on Oct. 17.

The 2010 F1 race will be held on June 13. “The return of the Formula One to Montreal attests to our sustained efforts and determination,” Montreal Mayor Gerald Tremblay said in a statement.

Montreal F1 race could return to Montreal in 2010 CBC News · Posted: Jun 18, 2009 8:29 AM PDT | Last Updated: June 18, 2009 ...

The law is the law and, in Canada, we’ve already benefited from a seven-year grace period. That’s why we want to see if there’s any way F1 could still race in Canada without tobacco branding.

We got hands-on time with two of the 19 tracks that will be featured in F1 2010: the aforementioned Monaco, with all of its twisting madness and tight confines and the wide-open speed of Montreal ...

The federal government and Montreal's tourism bureau will each contribute in $24 million over five years, while the province will spend $19 million and the municipal government nearly $5 million.