"It was very sad because it was one of the most popular races of the whole season," Villeneuve said. "For the drivers, for the fans, it was always a great venue – exciting, fun. Even the whole weekend in town was fun."
The Montreal event was dropped from the Formula One calendar back in October because of a dispute over sponsorship, leaving Canada without a single F1 race for the first in more than two decades.
"For Montreal, it's a terrible loss of business," Villeneuve said.
The race, first held in Canada in 1967, brought in approximately $75 to $80 million to Montreal every year.