FEBRUARY 8, 2006
Israelis to run Turkish track?
According to a report in the Greek media, the Israeli-owned Ofer Brothers group of companies is conducting a feasibility study on whether to take on the operations of the Istanbul Park Formula 1 circuit. The track cost more than $150m to construct and has lost money and the Istanbul authorities are keen to get it off their books. The Ofer Brothers are apparently looking at the venue to see if they can find a way of making the venue cost-effective, given that the government is understand to be paying the fees to the Formula One group.
The Ofer Brothers are a big Israeli company, based in London, which has involvements in real estate, property development, baqnkings, shipping, technology and energy. It is worth noting that its Zim shipping company recently announced that it is be a sponsor of MF1 Racing.
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