City Council will cover an operating shortfall of $2.4 million for the 2009 Rexall Edmonton Indy from its Financial Stabilization Fund. This is in addition to a $1.5 million budget adjustment made earlier in 2009, making the total shortfall for the 2009 event $3.9 million.

The City had previously agreed to consider backstopping the event for the duration of the three year contract (2008-2010).

Revenue for the 2009 event was heavily affected by the global economic downturn: ticket sales, corporate sponsorships and federal and provincial contributions were all smaller than expected. However, Northlands successfully trimmed three million dollars from the event operating costs.

The race generated an estimated $80M in economic activity for Edmonton and $18M worth of news and sports media coverage for the Edmonton Rexall Indy, reaching a worldwide audience of 310 million. A contract is in place for the event to operate in 2010.