DECEMBER 15, 2005
Turkey to sell off track operation
The Istanbul Chamber of Commerce has announced that it is to put the operation of the Istanbul Park racing circuit out to tender. The organisation has invested $160m in the facility. The news was announced by Murat Yalcintas, chairman of the executive board of the organisation. The tender will be offered to bidders from Turkey and from aboard. The specifications of the tender are currently being finalised and the tender process should begin in January. The circuit hosts both the Turkish Grand Prix and the MotoGP motorcycle Grand Prix, plus a number of other races.
At a press conference last summer Bernie Ecclestone said that there was a contract to go on racing at Istanbul Park for 99 years, although in practical terms there are no doubt get-out clauses if either side is not happy with the way things are developing.
It is worth noting that there is already a British-based company called Formula 1 Istanbul (UK) Ltd, headquartered in North London but it is not clear who owns this company nor what it does.
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