Istanbul’s Grand Prix is gearing up for an electrifying comeback, courtesy of Pirelli Turkey’s successful bid to rejuvenate the once-dormant circuit and race. The gears shifted into high speed when FIA president Mohammed Ben Sulayem visited the nation, following reports by Tass news agency about the local government’s intention to “hold a tender for the reconstruction and management of the Istanbul Park circuit.”
Under the stipulations set forth by local media outlet Hurriyet, the triumphant party in this tender is mandated to “include the mandatory annual organisation of the Formula 1 GP starting in 2026.” Moreover, “Another condition was put forward that the company that wins the tender will have to enter into an agreement with Formula 1 within one month,” ensuring swift progress toward the grand event’s resurgence.
The culmination of this tender process saw Pirelli Otomobil Lastikleri AS, Pirelli’s Turkish arm, taking the reins as the new custodian and promoter of the circuit. This development was followed by news of a $118 million deal for a 30-year lease, signalling a new era for the Istanbul track. Representatives from Liberty Media are poised to “make statements” in Istanbul shortly, further cementing the deal’s significance.
Pirelli Turkey’s chairperson, Lale Cander, heralded Formula 1 as “an extremely prestigious organisation,” emphasising its economic and reputational boon for host countries. “It brings tremendous amounts of money to the country where it is held and increases the prestige of that country. The last time F1 was in Miami, $450 million was brought to the city in four days. There will be countries that will be removed from the race calendar in 2026, so races can be held again in Turkey,” she underscored, highlighting the transformative impact of such events on their locales.
GMM
