Last week, the future of the Singapore GP appeared in doubt, but Bernie Ecclestone now says he wants to strike a "long-term" deal with the organisers of the Marina Bay night race.
Ecclestone's initial quotes to German publication Auto Motor und Sport seemed to put the event in jeopardy but the F1 supremo has clarified his comments, saying that they had been taken "in a funny way" by the magazine.
"F1's stand is to hopefully continue in Singapore," the 86-year-old told Singapore's Straits Times newspaper.
"My words were taken in a funny way. What I said was simple, no decision has been taken yet. There's no good speculating. We get on with it, with the negotiations, and see what happens.
"Everybody is happy to be in Singapore and (we) don't want to lose Singapore. Negotiations are ongoing and will be sorted out shortly... before the end of the year, I'm sure.
"We want to extend long-term. We'll see what happens."
A hugely popular venue on the F1 calendar among competitors, Singapore would represent a substantial loss for F1's Asian axis with neighboring Malaysia dropping its Grand Prix after 2018 following a falling revenue and lack of interest.
Singapore organisers have refrained from commenting on the race's status and its commercial negotiations with FOM, but daily attendance figures did slump this year to 73 000 from 87 000 in 2015.
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