Turkish authorities are optimistic about swiftly finalising a new agreement with Formula 1.
Recent developments suggest efforts are underway to resurrect the former Turkish Grand Prix at the Istanbul track, with Pirelli's Turkish arm set to take over management of the circuit.
A critical stipulation for Pirelli Turkey is "the mandatory annual organisation" of a Formula 1 race at this location starting from 2026.
The negotiations are advancing well, according to Turkey's Culture and Tourism Minister, Mehmet Nuri Ersoy, who spoke about the progress on Tuesday.
"The tender for the management of the Formula 1 track in Istanbul was held in early April and was completed successfully," Minister Ersoy informed Milliyet, a local newspaper in Istanbul.
"Now we have moved to the second stage. The previous tenant must vacate and hand it over to the company that won the bid. In this case, the process of concluding an agreement to hold the grand prix in Istanbul from 2026 will proceed quickly," he added.
According to the Milliyet newspaper, the deal should be finalised within the next month.
The Istanbul circuit last welcomed the Formula 1 community during the covid pandemic.
