Process to start soon for F1 return to country by 2026

ISTANBUL

Culture and Tourism Minister Mehmet Nuri Ersoy has announced that the contracting process to bring Formula 1 races back to Türkiye will begin in 2026.

Istanbul is taking a step closer to a potential return to the Formula 1 calendar. This news comes after Madrid secured a nine-year contract to host races until 2035, grabbing the first slot on the 2026 season calendar.

Ersoy also addressed the controversy surrounding the Istanbul Park tender. He confirmed that the tender process is finalized and the handover of the facility is expected in early May. This will be followed by the commencement of negotiations to bring F1 back to Istanbul by 2026.

Lale Cander, a partner in Can Bilim Eğitim Kurumları A.Ş., the company that won the tender, clarified that the handover of the track is expected in May, followed by negotiations with F1 officials. She said that their goal is also to secure F1 races in Istanbul by 2026.

Significantly, the tender includes a clause requiring the winning company to secure a contract with Formula 1 management within a month. Failure to do so will result in contract termination and forfeiture of their deposit.

The bid made to the General Directorate of Foundations stipulates that Formula 1 races must commence within a month of contract signing or face penalties of nearly $9 million annually.

The total cost of the 30-year lease for the track is estimated at $117.8 million. The construction period rent for the first year is set at $272,000 per month, with a 1.5% annual increase planned for subsequent years.