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Grand Prix Formula 1 in Istanbul - No more !!

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Istanbul, Turkey
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Grand Prix Formula 1 in Istanbul - No more !!

Unfortunately Grand Prix Formula One races will not be organized in Istanbul anymore (at least in 2012). This is a bad news for some because it was an important revenue for the city.

The first Formula 1 race in Istanbul started in 2005 and lasted for 7 years until this year. In the last few years its visitors dropped and organizers couldn't attract enough visitors to help keep the races going, and revenues declined. Therefore in 2012 (and most probabily forever) Istanbul leg of the Grand Prix is taken out of the race calendar.

Just wanted to inform Formula 1 fans..

Burak

Mount Dora, Florida
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1. Re: Grand Prix Formula 1 in Istanbul - No more !!

This is both surprising and sad. It seemed to me that the Grand Prix attracted huge numbers of people to Istanbul, but I suppose that high hotel rates and an absence of available rooms is no indication of the economic success of this race.

I am sad to see this popular event by-pass Istanbul.

Istanbul, Turkey
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2. Re: Grand Prix Formula 1 in Istanbul - No more !!

BR,

Like you said it attracted many people but only at the beginning, the race track was packed with spectators during its first years. But later both locals and foreigners have lost their interest (due to extremely high hotel rates is one of the reasons) .. Lately, out of 8-9 spectator stands only 1-2 of them were full and others were empty. Due to the lack of the interest from people live broadcasting rights and many other revenues have dramatically dropped. And finally the F1 management saw not much economic interest in this leg in Istanbul so they decided to pull the plug off.

Who knows, maybe in the future they would put it back on the calendar, but I hardly doubt it.

Burak

Istanbul
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3. Re: Grand Prix Formula 1 in Istanbul - No more !!

Probably in ten years, when there are enough number of locals who would be interested in car races, and when there are no longer greedy hoteliers who would double or triple room rates for no good reason, then the races would be back. At that time the metro will reach the Sabiha Gokcen airport also and the transportation problem from the races will be solved.

enigma...

Surrey, UK
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4. Re: Grand Prix Formula 1 in Istanbul - No more !!

I think once something has been tried and has been seen to fail, investors will be far more wary of rescheduling the same event - and it is the 'money men' that hold the power and make the decisions. Too many people will have lost a lot of money and so even if the infrastructure changes, I can't see F1 going back to Istanbul in the foreseeable future.

Remember Einstein's definition of insanity "Repeating the same thing over and over again and expecting the outcome to be different."

It is a shame however - I remember the huge excitement in the first year when the Hippodrome was turned into a racetrack once again but with F1 cars and not chariots!

Reading, United...
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5. Re: Grand Prix Formula 1 in Istanbul - No more !!

shame a good track and usually a good gp. Its all down to money isnt it? Good old bernie!

Edited: 30 July 2011, 13:17
Montreal, Canada
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6. Re: Grand Prix Formula 1 in Istanbul - No more !!

Sad to hear GP Forumla 1 leaving Istanbul. We experienced something similar in Montreal a couple of years ago when organizers inexplicably left Montreal off of the tour (Montreal was the only stop in North America). GP happily returned to Montreal after a short absence.

I am not sure if high hotel rates are to blame because in Montreal, the GP weekend sees hotel rates rise 200-300% from their regular rates and yet all the hotels are fully booked months before the actual race. The races, and even the practice races, are all fully packed.

This may have more to do wtih local support and local interest than hotel rates alone. I know that one of the reasons why the Montreal event is always so successful is because the whole city...restaurants, hotels, attractions, etc. all pitch in and organize lots of events around the GP weekend.

Again, very unfortunate and sad to hear about this news...

Istanbul
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7. Re: Grand Prix Formula 1 in Istanbul - No more !!

Montreal_Boy, the main reason is for this departure is the lack of local interest and support for this event. Unlike Montreal, local restaurants, hotels, attractions choose not to pitch in for additional events for the weekend. Basically Turkish people did not develop an interest in car races.

On the money side, Bernie Eccelstone wanted 26 million USD from the Turkish sponsors for the event, and was offered 20 million USD plus all broadcast rights and royalties. He refused the offer and decided to withdraw. So, just like b1ondie says, everything was down to money at the end.

enigma...

Montreal, Canada
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8. Re: Grand Prix Formula 1 in Istanbul - No more !!

Yes...good ol' Bernie....he tried to pull the same stunt with Montreal...as you said, fortunately in our case the local businesses stepped up to the plate and the city strengthened its hands in the negotiations...but yes, when Bernie is involved, it's always just a question of money, and little else...

Chicago
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9. Re: Grand Prix Formula 1 in Istanbul - No more !!

Local interest (or lack thereof) is key, imo. I know Montrealers who not only buy tickets to Formula 1 races when it's in town, but travel to one or two cities where races are scheduled. Me: Why?? Them: Because it's fun!

I'm going to have to take their word for it.

Reading, United...
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10. Re: Grand Prix Formula 1 in Istanbul - No more !!

if you want locals to take part the entrance fees have to be affordable. I know that silverstone entrance on the sunday was £140 and that was just to get in! Who can afford prices like that. Alot of corporate have tickets. Just out of curiosity how much was entry to the turkish gp. Angie