The Formula 1 Grand Prix races were expected to contribute to the city of İstanbul in many ways when it won hosting rights for the event before 2005, when first race on the İstanbul circuit took place; however, a lack of interest and financial problems threaten the future of the event in Turkey, İstanbul Mayor Kadir Topbaş has said.
In recent years, it has been rumored that Turkey’s rights to host Formula 1 Grand Prix races may be terminated after this year’s races. The speculation unofficially turned out to be true when İstanbul Chamber of Commerce (İTO) head Murat Yalçıntaş tweeted, “It looks like the Formula One race will not be held in İstanbul next year,” on Thursday. The future of the races is believed to be in peril due to a disagreement between the races’ Turkish officials and Formula 1 boss Bernie Ecclestone over payments for the race.
In recent years, it has been rumored that Turkey’s rights to host Formula 1 Grand Prix races may be terminated after this year’s races. The speculation unofficially turned out to be true when İstanbul Chamber of Commerce (İTO) head Murat Yalçıntaş tweeted, “It looks like the Formula One race will not be held in İstanbul next year,” on Thursday. The future of the races is believed to be in peril due to a disagreement between the races’ Turkish officials and Formula 1 boss Bernie Ecclestone over payments for the race.
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