The best chance of rain on Friday still looks to be in the afternoon and evening as an area of low pressure at the surface tracks across southern Ontario. While there is still a chance of showers at any time of the day, the thunderstorm possibility and the majority of rain will be in the afternoon and evening. A quarter to a half inch of rain can be expected during this time.
There will probably be a break in the rain Friday night as the surface low moves to the east, but the upper level low will still have to move through. This is what will bring numerous showers on Saturday. On the bright side, I don't expect that there will be much potential for thunderstorms, and I don't expect the rain to be very heavy or constant. There will be numerous on/off showers through the day, and rain amounts will likely be between a tenth and a quarter inch. The pressure difference between the departing surface low and high pressure to the west will result in breezy conditions on Saturday, with a northwest wind at 10 to 20 mph, gusting to around 30 mph at times.
The upper low may still produce some showers into Saturday night, but drier air will be moving in by the time the on-track activity starts on Sunday. The race will be run under mostly sunny skies, with highs in the upper 70s.