From GMM
Bernie Ecclestone has not ruled out finding a solution as Turkey threatens to bow out of formula one.
Istanbul officials last week said they had rejected the F1 chief executive's push to double the race sanctioning fee for 2012 and beyond.
But there is more to the story, such as the fact that Ecclestone actually controls the management rights to the Istanbul Park venue that is highly regarded by drivers but fails to attract large crowds for the annual event.
"It was not a profitable event. Serious finances are needed in order for this system to work. Unfortunately there was a problem. Turkish people didn't give the races recognition," Istanbul mayor Kadir Topbas told the Zaman newspaper.
Bernie Ecclestone has in the past described the track as the "best in the world" and said he was happy to have brought his sport to Eurasia.
He now tells the Daily Express: "The race brings a huge amount of people, trade and publicity to the city. I am a bit disappointed (with Turkey's decision to drop F1) and I hope we can work out a deal."
Bernie Ecclestone has not ruled out finding a solution as Turkey threatens to bow out of formula one.
Istanbul officials last week said they had rejected the F1 chief executive's push to double the race sanctioning fee for 2012 and beyond.
But there is more to the story, such as the fact that Ecclestone actually controls the management rights to the Istanbul Park venue that is highly regarded by drivers but fails to attract large crowds for the annual event.
"It was not a profitable event. Serious finances are needed in order for this system to work. Unfortunately there was a problem. Turkish people didn't give the races recognition," Istanbul mayor Kadir Topbas told the Zaman newspaper.
Bernie Ecclestone has in the past described the track as the "best in the world" and said he was happy to have brought his sport to Eurasia.
He now tells the Daily Express: "The race brings a huge amount of people, trade and publicity to the city. I am a bit disappointed (with Turkey's decision to drop F1) and I hope we can work out a deal."