Category: Sport

Recent reports have revealed that the future of the Formula 1 Turkish Grand Prix is in jeopardy.

An official of the venue claims that the finance ministry of the country is not going to double the race fee as requested by the sport’s organisers.

Murat Yalcinta, who is the head of the Istanbul Chamber of Commerce, has stated that Formula 1 Management’s CEO Bernie Ecclestone asked the organisers of the Turkish Grand Prix to increase the price from next year. The current contract will expire after this season’s race which is expected to take place in less than 3 weeks time.

Murat believes that the race after 2011 is not likely to “go ahead” after holding a board meeting about the future of the Turkish Grand Prix.

“Each year the price of Formula 1 for the racing ministries company was $13 million. After this year Ecclestone asked for $26 million,” Murat wrote on his Twitter page.

However, no official statement by the organisers of the Turkish Grand Prix has been released yet regarding the matter. However, since the venue’s Formula 1 debut back in 2005, the attendances at every year’s event are increasing which is also increasing the profit margin of the organisers.

As a result, since the International Automobile Federation (FIA) is asking for more money for the race, the organisers will have to go through a tough time in order to hold the race at the Istanbul Park Circuit.

According to the current situation, it seems that Bernie might not be too concerned about losing the race for the years to come as the United States Grand Prix is expected to return to the Formula 1 calendar in 2012. This time, the US GP will take place at a newly built circuit in Austin instead of the old Indianapolis circuit.

Other than that, Ecclestone is going through a tough time in pleasing the teams along with introducing new and more venues for the sport since most of the teams want to keep a year’s season to a maximum of 20 races.

Because of this, Bernie is being forced to get rid of some venues as well as he stated some time ago that the sport “does not need the Australian Grand Prix.” The organisers of the Australian GP were also not willing to pay more money for the event.

Nevertheless, the Indian Grand Prix is expected to debut in 2011 at the end of October and it seems that Bernie’s thirst for new venues might lead to the elimination of some current venues from the Formula 1 calendar which might include the Turkish Grand Prix as well.

via Refusal of Turkish Grand Prix organisers to pay more fee to FIA puts future of race in jeopardy | bettor.com.

The next round of the Formula One world championship in Turkey may well be the last time the country stages a race after organisers claimed they had been priced out, with costs set to double to $26m (£15.75m) next year.

The Istanbul Park circuit, whose contract runs out this year, hosted its first grand prix in 2005, and the construction costs and race fees were met by the government. Despite some logistical difficulties, with fans stuck in traffic jams, the inaugural race was sold out and seen as successful in a country with little or no tradition of, or interest in, motor sport. However, this factor became telling soon afterwards. Attendances began falling and by 2009 only 36,000 were at the circuit on race day. The same year, 128,000 attended the British grand prix.

Bernie Ecclestone, Formula One’s commercial rights holder, has blamed poor promotion, saying: “They have a huge catchment area of east European and Middle East countries. The layout is brilliant, they just don’t promote it.” Yet, in a further example of the labyrinthine financial arrangements within the sport, the operation of the circuit is leased to Ecclestone by the Turkish government.

The issue of a price rise first came up last year, when Turkey’s youth and sports director, Yunus Akgul, said: “Paying $26m for this organisation every year is a big burden. The figure is very high.” On Friday, there appeared to be confirmation that it was too high. The Hurriyet newspaper quoted Murat Yalcintas, head of the Istanbul Chamber of Commerce, who had tweeted: “It looks like the Formula One race will not be held in Istanbul next year. Because it [the finance ministry] found this figure very high it looks like it will not make the payment.”

Ecclestone is unlikely to be concerned as he has made it clear there are always countries keen to stage a race. The US grand prix returns next year in Austin, Texas, South Africa is bidding for rights in 2013 and Russia is advanced in negotiations to hold a race for a reported $40m.

Although not well-attended, the Hermann Tilke-designed circuit in Turkey is much-liked by armchair fans and drivers alike. Nico Rosberg described it as “one of the best of the newer tracks we visit over the year”. It boasts considerable elevation changes and a magnificent test in the form of Turn 8, features that have contributed to some enthralling racing. Last year Sebastian Vettel and Mark Webber went wheel-to-wheel before a coming-together, while Lewis Hamilton and Jenson Button competed furiously before Hamilton took the chequered flag.

via Turkey grand prix heads for the scrapyard over $26m price tag | Sport | The Guardian.