A limited number of fans will be allowed to attend the Formula One Turkish Grand Prix race to be held on Nov. 15 in Istanbul, tickets for the event being some of the cheapest in the world, the operator of the racetrack said Monday.

According to Vural Ak, chairman of Intercity, which operates the Istanbul Park racetrack, around 100,000 fans will have the opportunity to watch the race live under strict coronavirus precautions.

Vural said the estimated 100,000 fans would mean less than 50% occupancy rate, as the venue boasts a 220,000-spectator capacity.

Formula One last week confirmed the return of the Turkish Grand Prix to the country's event calendar after weeks of rumors.

Hosting its last Formula One race in 2011, the return after nearly a decade is expected to mark the start of a new era for Turkish motorsports fans.

"Like the Portuguese and Russian races, the Turkish Grand Prix will be held with fans. That’s why Formula One pays a great deal of attention to the race in Istanbul. We are planning for a successful and safe event, with the help of the Turkish government. And we believe if it was not for the pandemic, we would have filled the whole 220,000 capacity," Ak told reporters.

Ak estimated around 20,000 of the fans would be foreign tourists arriving in Turkey to attend the race.

While Formula One organizers have scrapped everything from races with fans to news conferences as a precaution amid the COVID-19 pandemic, Ak said Turkey’s successful fight against the outbreak meant fans would be allowed to attend in a controlled manner.

He also said they were prepared for anything if things take a turn for the worse. "We are prepared against all scenarios," he said.

Vural said tickets would go on sale the second week of September, adding that with a limited-time offer, tickets for the event would be the cheapest for a Formula One race in the world.

Explaining that the tickets would be sold for a limited time as a three-day pass for TL 90 ($12), Vural said fans would enjoy various other activities that will be held at the racetrack during the weekend.

"By only paying TL 90, fans will be able to enjoy not only the Formula One race but also numerous surprises and activities we have prepared for them. We’ll be selling the cheapest Formula One tickets in the world," he said.

Vural added that other weekend activities included various concerts, Formula One Fan Zone events and showcases for various cars and motorcycle brands.

Speaking about the future of the Turkish GP, Ak said the one-year deal with Formula 1 could be extended beyond the November race.

"We were actually in talks for a long-term contract to be signed in 2021, but it's difficult for a country to be added without another leaving. The pandemic changed this," Ak told reporters.

"Once the operation is completed without problems, both sides are willing to turn this into a long-term contract," he said.