Price-hike threatens 2012 Turkish GP

Date published: April 24 2011

Istanbul will reportedly be dropped from the F1 calendar after May’s race after officials refused to agree to Bernie Ecclestone’s price hike…

Istanbul will reportedly be dropped from the F1 calendar after May’s race after officials refused to agree to Bernie Ecclestone’s price hike.

The head of the Istanbul Chamber of Commerce, Murat Yalcintas, reportedly told the Hurriyet Daily that the Turkish government has said no to Ecclestone’s increased fee.

The Daily claims that the F1 supremo wants to raise the price of staging the race from $13 million to $26 million.

Yalcintas Tweeted on the matter, saying: “It looks like the Formula One race will not be held in Istanbul next year.

He added that the reason is “because it (the government) found this figure very high, it looks like it will not make the payment.

“That is the reason the race is not happening.”

Turkey is scheduled to host the next race on the 2011 calendar on May 8.