Sunday 8 February at 14:29 : Feb.8 (GMM) The formula one circus may not return to Turkey's Istanbul Park circuit after the 2011 grand prix there, local reports on Sunday reported

Sunday's Zaman newspaper said Bernie Ecclestone, who rents the venue from the Istanbul chamber of commerce, has indicated he wants to break the agreement

According to the F1 chief executive's contract with the circuit, it can only be terminated with three years of notice

Istanbul's chamber of commerce chairman Murat Yalcintas said he believes the 78-year-old billionaire has only served notice as a precautionary measure amid the global financial crisis

But the circuit's general director Can Guclu said: "We are afraid that 2011 may be the last year of the staging of F1 in Istanbul."nnHe explained that it is usually a multi-year process to secure a date on the sport's annual calendar

"If we want the Turkish grand prix to stay on the calendar, we need to start working immediately. Or else, we cannot just begin negotiating for the race in the last year of the contract

"There is still nothing about extending the deal and no demand from either side," said Guclu