"The return of the Turkish Grand Prix to the Formula 1 calendar is a victory for Turkiye's passion and belief in sport, said Erdogan. The Formula 1 races to be held at Istanbul Park for at least five years will both support Istanbul's leading position in the world and demonstrate to the world that our country is the safe haven of its region."
"While Turkiye continued negotiations to return to the calendar after that event, momentum slowed from 2022 onwards, partly due to the tens of millions of dollars needed to secure a deal that competitors, such as Qatar, were able to finance."
"In 2024, Can Bilim Egitim Kurumlari AS, part-owned by F1 tyre provider Pirelli's Turkish branch chairwoman Lale Cander, earned rights to operate the Istanbul Park circuit for a 30-year period for some $117.8m."
Istanbul Park circuit will host Formula One races starting in 2027 for a minimum of five years. This decision follows Turkey's efforts to return to the sport after last hosting a race in 2021. President Erdogan announced the deal, emphasizing its significance for Turkey's global image and sporting passion. The circuit, popular among drivers and fans, previously hosted races from 2005 to 2011 and in 2020. Financial negotiations had slowed, but a new operator secured a long-term agreement to revitalize the circuit's presence in Formula One.
Read at www.aljazeera.com
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