No delight for Turkish Grand Prix as price-hike threatens to see 2012 race axed

By SPORTSMAIL REPORTER Updated: 04:27 EST, 22 April 2011

Next year's Turkish Grand Prix is under threat following a cash row between the country's officials and Formula One supremo Bernie Ecclestone.

Turkish media are reporting that the government have rejected a bid by Ecclestone to raise the payment to stage the race to $26million (£15.7m) from $13m (£7.9m). 

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Murat Yalcintas, head of the Istanbul Chamber of Commerce, commented on the situation on his Twitter account. 

 

'It looks like the Formula One race will not be held in Istanbul next year,' he said, referring to the bid to double the fee.

'Because it found this figure very high it looks like it (finance ministry) will not make the payment. That is the reason the race is not happening,' he said.    

Last year Ecclestone insisted that Turkey would stay on the F1 calendar long-term despite attracting poor crowds. Butt the current contract runs out this year.   

This year's Istanbul Grand Prix is scheduled for May 8.