Will cost overruns jeopardize ’05 Turkish GP?

UPDATE This rumor is downgraded to 'false.' Turkey is on course to host its first Formula One Grand Prix in August as scheduled, according to Bernie Ecclestone. "We have seen what's been done, and we are very happy with things exactly the way they are. I don't see any problems at all," Ecclestone told reporters on Friday. "If you're worried at all about the expenditure or the way things are being carried out financially … you've got the best deal in Formula One," he told a news conference. "The reason for that is we didn't come here for the money. Quite the opposite, we came here to embrace Turkey into Europe. And I think we can do that as well as anybody." 04/26/05 The construction of the Istanbul Otodrom circuit that will host the Turkish Grand Prix in August has been hit by severe cost overruns. The original $100 million project is underway but the total cost is now estimated to be $153 million, according to Zaman Online. The Istanbul Chamber of Commerce is looking for an additional $55.1 million to complete the 5,378 km Istanbul Otodrom. Whether the overruns will delay construction and postpone this year's race remains to be seen. Circuit diagram by eTracks Online