Turkey could be priced out of hosting a Formula One race in the near future, according to reports in the local media which state Bernie Ecclestone is demanding a doubling of the hosting fee.
Istanbul Park has a contract to host F1 until 2011, reportedly costing the local government around £9.5 million (€11.5m, $14m) per year. A fairly low price when compared to other races.
Ecclestone is looking to almost double this to £18m (€22m, $26m). A figure which could see the government wave goodbye to the sport.
A meeting between Ecclestone, State Minister for Sports Faruk Nafiz Özak and Finance Minister Mehmet Şimşek took place during the weekend of the Turkish GP. The meeting reportedly ended without an agreement.
“Turkey is definitely fond of hosting these races, and all this haggling is taking place for this,” said Yunus Akgül, Youth and Sports Director. “After these talks, both sides understand the positions of all involved, and the process will be concluded within two months.
“However, paying $26m for this organisation every year is a big burden. The figure is very high,” he said.
“We’ve approached the deal from a different angle. Our last offer was that he relinquish the operating rights to İstanbul Park, and we guaranteed that the track would be reserved for the organisation for three weeks before and during the races. In return, we wanted him to come up with a new offer.”
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