Even as someone who watches more motorsports than all other sports put together, I understand how Rogers had to do something. This was an awful excuse for a channel. It was great for its first few years when it started in the 1990s, but it was slowly but surely intentionally ruined by Fox after they bought it.
There was nothing of any worth left on this channel except the Fox Sports (1 and 2) racing coverage on weekends, and of course even that disappears during the winter. The only things I've watched on this channel in the last three months were one hour highlights packaging of the FIA GT series and World Endurance Championship series, but those are recorded much earlier in 2013 and deliberately held back by Fox/Speed to give them something (sort of) "new" to show in the racing off-season. And there was no commercials, just very repetitive promos, one of them for the defunct Rolex SportsCar Series and another for their speed2 website which is useless for Canadians. Most of their schedule was reruns of the reality and game shows long ago discontinued when (or before) the US Speed channel ceased to exist last year.
I really don't know why Rogers or any of the Canadian BDUs kept carrying this channel as long as they did. Everyone definitely knew almost a year ago that the US channel would be disappearing, and the Canadian BDUs should have been looking to replace it as soon as possible, certainly by the time the US Speed disappeared in August.
I'm not sure what to read into the part of the Rogers statement saying "if the channel provider will come to an agreement that allows us to offer the channel to a more specialized audience at a reasonable rate". I assume Rogers and everyone else realized this version of Speed was not a worthwhile channel. Maybe Fox had answered that if Rogers wanted a channel with more actual racing events like their Speed channel in Australia, they would have to pay a lot more, and Rogers response was to give Fox a deadline to drop the channel.
At least we get to see the 24 Hours of Daytona later in January. I think the broadcast Fox network will show the start of the race, with Speed/FS1-2 showing much of the rest. But I hope by March Rogers has something arranged to let us see the 12 Hours of Sebring and other racing the rest of the year, beyond the F1, Nascar, and IndyCar racing that is usually on Sportsnet or TSN. If they do eventually add another racing channel (Motors TV, a new version of Speed resembling the one in Australia, or a new channel of their own), I would assume it would now likely be outside of any large packages of channels and carry a high price for subscribers.