Formula 1 will make a comeback to Turkey's Istanbul Park in 2027, following a new five-year agreement that will see the Turkish Grand Prix remain on the calendar until the 2031 season.

The deal was reached with Türkiye’s Youth and Sports Ministry, while the Turkish Automobile Sports Federation (TOSFED) will serve as Formula 1’s delivery partner for the events, The Caspian Post reports, citing Turkish media.

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President Recep Tayyip Erdoğan welcomed the return of the race during the Formula 1 Türkiye Grand Prix promotion program held at the Dolmabahçe Working Office in Istanbul on April 24, saying Istanbul Park would host “exciting” races for five seasons between 2027 and 2031.

Erdoğan said Formula 1 has a strong following in Türkiye, reaching around 19 million people in the country and followed by about 7.5 million people on social media.

He recalled that Türkiye had hosted Formula 1 nine times before, including seven races between 2005 and 2011 and two more during the COVID-19 period in 2020 and 2021.

“The first race in 2005 broke a record in the history of the Republic with over 110,000 spectators in the stands alone,” Erdoğan said, adding that Istanbul Park had become one of the most memorable circuits on the Formula 1 calendar.

He said Türkiye’s return to the calendar reflected confidence in the country’s organizational capacity, sports and health infrastructure, and hospitality.

“As Türkiye, we will host the races with a flawless organization in every aspect,” he said.

Formula 1 President and CEO Stefano Domenicali and FIA President Mohammed Ben Sulayem also attended the program and delivered remarks.

After his speech, Erdoğan pressed a button for the symbolic start of the 2027 Formula 1 Türkiye Grand Prix.

A Formula 1 test car driven by Red Bull driver Yuki Tsunoda also traveled from Galataport through Karaköy to Dolmabahçe as part of the event.

TOSFED President Eren Üçlertoprağı later presented Erdoğan with an F1 steering wheel.

The return of Formula 1 is expected to bring a significant tourism and promotion boost to Istanbul.

Estimates cited in the presentation put the expected annual contribution to Türkiye at around $200 million to $250 million, with about 200,000 local and foreign visitors expected during the race week.

Istanbul Park first joined the Formula 1 calendar in 2005 and is known for its 5.33-kilometer layout and challenging Turn 8.

Türkiye last hosted the race in 2021, when Mercedes driver Valtteri Bottas won at Istanbul Park.