The company that won the Istanbul Park tender has been announced. Can Holding, the owner of educational institutions such as Doğa College and Bilgi University, won the tender. The company needs to bring Formula 1 to Turkey in 2026.
Formula 1 track located in Tuzla district of Istanbul of Istanbul Park Its future was a matter of great curiosity after the agreement with Intercity ended. In the past months, it was announced that the tender for the facility would start as of April 2.
That day came and the company that won the tender was announced. Can Holding within Can Bilim Educational Institutions Inc.was the company that won the tender. Only one company participated in the tender.
Can Holding is supposed to bring the races to Turkey in 2026 within the scope of a 30-year agreement worth 117 million dollars.
In the tender announcement, it was stated that the agreement would cover 30 years and have a cost of 117 million 806 thousand dollars. The winning company is Can Holding, owner of Can Bilim Educational Institutions. Doğa College and Bilgi University Let’s add that it is the umbrella company of education-oriented institutions such as. According to Motorsport.com, the company also has activities in many different fields, including hospitals, transportation, hotels and fuel.
With the agreement, control of Istanbul Park will pass to Can Holding for 30 years. In the tender conditions shared in previous months, it was stated that a Formula 1 guarantee would be required. So the company F1 races should be brought to Turkey in 2026. The explanation regarding this issue in the specification was as follows:
Statement regarding Formula 1 races in the tender specifications:
“The Contractor will guarantee that the Formula 1 races will be held on the real estate, and within 1 (one) month after the contract for the work is signed, an agreement will be reached regarding the Formula 1 races to be held on our real estate and the protocol to be signed will be notified to the administration. If this is not done, the contract will be terminated and the deposited guarantees will be recorded as income to the administration,
The Contractor will undertake that Formula 1 races will start on the existing Formula 1 track on the property as of 2026. For each year in which races cannot be held after this year, including 2026, an annual compensation of 25% of the Formula-1 contract price for that year will be paid to the administration.
RELATED NEWS