The Turkish Grand Prix organisers were relieved to keep the event on next year's calendar and said they accept the heavy fine imposed upon them by the FIA's World Motor Sport Council today.
The National Sporting Authority of Turkey (TOSFED) and the Organisers of the Turkish Grand Prix (MSO) were found to be in breach of the FIA statutes, the international sporting code and Formula One regulations with a controversial podium ceremony at last month's race in Istanbul.
As a result, the governing body fined the Turkish authorities with five million US dollars.
"To be honest, I did not expect a fine that high," Sports Minister Mehmet Ali Sahin told the CNN Turk news channel. "Presumably the FIA did not think that our defence was adequate.
"What is important for me is that the Formula One race will be held in Turkey next year. There was some expectation that it could be taken off the calendar."
MSO head Ilhan Parseker told Turkey's state-run Anatolian news agency that the atmosphere at the meeting had been positive.
"What was important for us was that the races at the Istanbul Park would continue without interruption. We respect the fine which has been handed out," he said.
"We never exploited sport for the sake of politics. We leave the general public to make up their mind about the decision," added Murat Yalcintas, chairman of the Istanbul Chamber of Commerce, in an interview with CNN Turk.
However, Cyprus Automobile Association chairman Philios Zachariades told Reuters "the fact that Turkey was condemned is what is relevant.
"We don't think the fine itself is really important, but that Turkey was condemned, because Mr Talat is not the head of any state."
Istanbul Park issued a brief statement, merely saying: "The Formula One races at the Istanbul Park will continue uninterrupted."
The statement made no mention of the US$5 million fine - the largest ever awarded in motorsports.
Previously, a one million US dollars fine was handed to Ferrari, Michael Schumacher and Rubens Barrichello for a breach of podium procedures after the infamous 2002 Austrian Grand Prix. Half the fine was suspended for a year, payable only if they re-offended within the 12 months.
South Korean carmaker Hyundai was fined US$1 million in 2004 for missing four rounds of the world rally championship.
And another US$1 million fine was handed to the Hungarian Grand Prix organisers, after a track invasion at the 1998 race. 75% of that fine was suspended, payable if there was a similar incident within two years.
Other fines in history included US$500,000 to Benetton in 1994, after Schumacher ignored a black flag warning at the 1994 British Grand Prix;
Benetton and Williams were fined US$200,000 after being found guilty of using irregular fuel at the 1995 Brazilian Grand Prix;
McLaren and Benetton were each fined US$100,000 by FIA after failing to make computer codes available immediately after the 1994 San Marino Grand Prix;
Brazilian Grand Prix organisers were fined US$100,000 for safety problems during the 2000 GP;
Ayrton Senna was fined US$100,000 for dangerous driving at the 1990 Japanese Grand Prix - although his team McLaren paid the fine;
McLaren were fined US$50,000 and lost 10 points in the constructors' championship for a missing seal on an electronic control unit after Finland's Mika Hakkinen won the 2000 Austrian Grand Prix; and the Woking-based outfit was fined another US$50,000 for fuel irregularities at 1997 Belgian Grand Prix;
And, finally, Ferrari were fined US$50,000 for vandalism at Portugal's Estoril circuit in 1994, after mechanics helped break down a locked door to leave the track after working on the team's cars.