Aug.31 (GMM/Inautonews.com) Turkey’s chances of returning to the F1 calendar any time soon now appear dead.

Istanbul Park hosted grands prix between 2005 and 2011, with the Hermann Tilke-penned circuit famous for its challenging turn 8.

But the event collapsed for financial reasons and a lack of local interest.

Now, the track that reportedly cost almost $300 million to build is to become a used car dealership, the Turkish daily Sozcu reports.

A car rental company has reportedly signed a 10-year lease and plans to sell 25,000 cars per year from the facility, to be called Istanbul Park Auto Market.