Turkish Grand Prix officials are confident of staging next year's race, despite being handed the largest fine in motorsport history.

World governing body, the FIA, decided against axing the race from the Formula One calendar for 2007 after controversy erupted in last month's event at the Istanbul Park.

However, at a special meeting of the World Motor Sport Council in Paris, the National Sporting Authority of Turkey (TOSFED) and the Organisers of the Turkish Grand Prix (MSO) were fined a record £2.66m.

That stems from an incident that saw Turkish-Cypriot leader Mehmet Ali Talat present Ferrari's Felipe Massa with the winner's trophy at the end of the August 27 race.

The Turkish-controlled area of northern Cyprus is not recognised as a separate country by the United Nations, resulting in the FIA expressing anger their political neutrality had been compromised.

Facing charges of breaching FIA and Formula One rules, TOSFED and MSO were ruled against on all counts, and have 30 days to pay the fine.

"We've only got a very short period to find the money, said Baran Asena, the Istanbul Park track manager.

He added: "But we are sure our race, which has been one of the most popular additions to Formula One, will stay on the calendar."

Since staging its first Grand Prix last year, the Turkish track has been acclaimed by both drivers and team managers.

It is believed to be for this reason the council decided against dropping the event, instead meting out the extraordinary fine.