The Edmonton Indy will return in 2011, after city council voted to approve a $3-million deal on Friday.

The city will contribute $2 million from new parking revenue and local businesses will chip in the rest.

The deal will relocate the track to the east side of the City Centre Airport. The runway closed last summer will be part of the track and will be a parking lot the rest of the year.

It is expected that a deal between the city and Octane Racing will be signed this week.