An official from Istanbul’s Chamber of Commerce said the Turkish Formula One Grand Prix might not be held next year because of a disagreement over the cost of the race, local media reported on Friday.
Murat Yalcintas, the head of the chamber, wrote on his Twitter account that Istanbul would likely not be hosting a race next season because Formula One CEO Bernie Ecclestone had doubled the fee for hosting it.
“It looks like the Formula One race will not be held in Istanbul next year,” Yalcintas wrote.
Yalcintas said the Finance Ministry had previously paid 13 million dollars a year to stage the race, but that Ecclestone had asked for 26 million dollars starting next year.
“Because it found this figure very high, it looks like (the Finance Ministry) will not make the payment. That is the reason the race is not happening,” Yalcintas wrote.
The Chamber of Commerce did not issue a statement, but confirmed to DPA that Yalcintas’ Twitter account was genuine and that the comments were true.
Milliyet newspaper quoted Yalcintas on Friday as saying that there would be a meeting with Ecclestone during the Istanbul Grand Prix in early May to see if a solution could be reached.
“If Ecclestone adopts an uncompromising manner, there can be no agreement. In the end, this is public funding. It is not definite yet,” he said.
