Malaysian Grand Prix organisers say a new contract has yet to be signed because it has yet to agree a race fee with Formula One Management (FOM).
This year’s race is the last of the current contract for the grand prix at Sepang, which has been on the Formula One calendar since 1999. While talks are ongoing, Sepang International Circuit chairman Tan Sri Mokhzani Tun Dr Mahathir says the main sticking point remains the cost of the race and who will contribute towards it.
"The talks are centred on an agreeable price for organising the prestigious race for the next three years,” Mokhzani told the Bernama news agency.
"We also have to take into consideration the current economic volatility ... For now we have not made any decision yet (on extending the contract). We have to ensure the negotiations proceed smoothly.”
However, Mokhzani appears confident a new deal will be agreed, saying the future of the Malaysian Grand Prix will be known by the time this year’s race on March 29.
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