Steep price may keep 2012 F1 race out of Turkey

Ankara, Turkey (AHN Sports) – In a strapped Global economy, Turkey officials are weighing whether or not to host a Formula One race next season.

According to reports, a Turkish official said the staging fee to host a race has doubled from $13 million to $26 million, potentially putting the 2012 F1 race in Turkey in limbo.

Murat Yalcintas, the head of Istanbul’s Chamber of Commerce, has said publicly and on his Twitter account that the current fee is too high and could take away the 2012 event as a result.

Traditionally, an F1 event comes to Instanbul annually.

Turkish officials and F1 will have a meeting concerning the issue during next month’s Istanbul Grand Prix.

The country joined the F1 scheduled in 2005, but the event has seen poor attendance due for a myriad of reasons.

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