The Istanbul Park circuit in Turkey, once sidelined from the Formula 1 schedule, is now on track for a potential comeback by 2026.
This follows a change in management and a renewed effort to rejuvenate its appeal to both fans and the F1 administration. Can Bilim Egitim Kurumlari A.S., a company partly owned by Lale Cander, the chairwoman of Pirelli's Turkish operations, has secured the circuit's new operating rights.
They've secured a 30-year management deal valued at $118 million, according to reports.
Istanbul Park first appeared on the F1 calendar in 2005 but was dropped after the 2011 season due to financial disputes and a perceived lack of promotion, resulting in poor profitability. Bernie Ecclestone, the former F1 owner, criticized the event organizers for their inadequate promotional efforts.
In 2012, Ecclestone expressed regret over its removal from the calendar, stating, "I was sorry when the contract ended, but it's always possible to return to Turkey.
I was sorry because it's a great track and Istanbul is a great city. Both the teams and the FIA were very happy to be in Istanbul... If the problem with the government [over the race-hosting fee] can be resolved, then Turkey could return to the calendar."
Efforts to move the race to Tuzla in 2013 failed when the necessary government financial support did not materialize.
However, the track made a temporary return in 2020 and 2021 as Liberty Media, the current F1 rights holder, sought to fill gaps in the race calendar caused by the COVID-19 outbreak. Despite receiving high praise from drivers and fans for its layout and challenge, especially the Diabolica corner, the event struggled with live attendance, leading to its second removal from the schedule.
Both Turkish President Tayyip Erdogan and FIA president Mohammed Ben Sulayem have expressed strong interest in reintegrating Istanbul Park into the F1 calendar, given the sport's increasing popularity and profitability.
Tourism Minister Mehmet Nuri Ersoy has echoed this sentiment, hoping to reinstate it for the 2026 season by entrusting the responsibility to Can Bilim Egitim Kurumlari A.S.
According to the agreement, if the circuit fails to host the F1 after 2026, they will be required to pay 25% of the hosting contract fee to the administration each year.
The contract also allows them to construct shops and entertainment venues around the circuit to enhance profitability.
It is expected that representatives from Liberty Media will soon inspect the circuit.