A new company headed by Bernie Ecclestone has taken over the running of
the Istanbul Park circuit, venue for the Turkish round of the FIA
Formula One World Championship.

The newly-formed Istanbul Park Organizasyon (IPO), a subsidiary of
Formula One Administration Ltd, has taken a 15-year lease on the
circuit and has agreed to promote the Turkish Grand Prix, thereby
securing the event for the foreseeable future.

"This is without any doubt the best venue in the world,"
said Ecclestone. "I am very proud of what has been built here and
it opens the eyes of everybody around the world to what can be achieved
in Turkey."

Istanbul Park joined the Formula One calendar in 2005 and the Hermann
Tilke-designed circuit was instantly hailed a hit by fans and drivers
alike, thanks to its superb facilities and challenging layout.

This year's Turkish Grand Prix takes place on August 24-26.

Source: formula1.com