TORONTO -- Future IndyCar events may be in jeopardy if the Canadian goverment passes the proposed new laws severely restricting cigarette advertising.

Andrew Craig, president and CEO of IndyCar which conduct annual events in Toronto and Vancouver, said his organization "would not be prepared to continue racing in Canada" if the anti-tobacco legislation passes in its current form.

Craig, also said IndyCar hopes to "be able to work in concert with legislators to address their concerns."

Tobacco companies invest large sums of money in motorsports all over the world including Formula One, IndyCar, Toyota Atlantic, and Indy Lights which all hold annual races in Canada.

"If these proposed regulations are instituted, it will jeoparize the participation of several of our race teams and we would not be prepared to continue racing in Canada," Craig said. "It's important to note that, even in countries where there is regulation, major international events such as IndyCar races have been excluded."