The City of Montreal and Formula E organizers have finally reached a settlement after five long years of deliberations and arguments. The saga, which involved a lawsuit against the city and Mayor Valérie Plante following a cancelled 2018 race, is finally over thanks to the out-of-court agreement.
In a press release, Benoit Dorais, chairman of the executive committee responsible for finance and legal affairs, said that the city "authorized an out-of-court settlement in the amount of capital, interest and costs of $3 million payable by the City to Formula E Opérations Limitée (FEO) in full and final settlement of the case."
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In addition, the agreement includes dropping the lawsuit against the mayor.
In 2018, after the mayor cancelled the race that she called a "financial fiasco," FEO initially sued the city and the mayor for $33.1 million before reducing it to $16.1 million.
"This $3 million settlement in relation to a $16.1 million lawsuit is made for the benefit of Montrealers," said Dorais.
