Singapore to wait on Liberty before new contract

The Singapore Grand Prix's deal to host Formula 1 races will end after next year's race and any future deal will hinge on Liberty Media plans for the sport.

Iswaran told the Strait Imes, "It's an early stage in the new configuration of F1, so we have to give them [Liberty Media] to settle down and think it through in terms of what they would like to put forward."

"On our part, our process, as always, will be a deliberate one because we want to make sure that as we look ahead to any new agreement, we want to make sure that it is one anchored to clear mutual benefits. It will be a deliberate and circumspect process.

"I don't want to put a time frame to it, to be fair the transaction (sale of F1 to Liberty) is still ongoing, so I think you need to give them time to settle down and have the transaction completed.

"I am reluctant to put a time frame to it because all parties will want to have a good understanding of the overall situation."