Stefano Domenicali

The new management of the Istanbul Park circuit, which has hosted the Turkish Grand Prix many times before, has been determined.

Can Science Education Institutions, a subsidiary of Can Holding, emerged as the sole bidder in the tender for Istanbul Park's Formula 1 track, in Istanbul's Tuzla district, winning a 30-year contract.

Formula One has extended its broadcast deal with American network ESPN for a further three years, as the sport enjoys a boom in the country.

An increased minimum of 16 races each season will air on ABC and ESPN, both part of the Walt Disney Company, over the coming three years, F1 said in a statement.

The Turkish Grand Prix in the 2021 Formula One World Championship scheduled for June has been canceled, it was announced on May 14. 

"Formula 1 has provided an update on the 2021 race calendar, with new Covid-19 travel restrictions meaning it's no longer possible to race in Turkey on June 11-13," Formula One said in a statement.