Ecclestone seeking China extension

Formula One supremo Bernie Ecclestone is keen for Formula One to remain in China after the current deal for the race expires next year.

The Chinese Grand Prix has been in Shanghai since 2004 but with local spectator and corporate interest in the sport dwindling, the future of the race has been in doubt.

Ecclestone, however, is confident the situation will be resolved, saying: “As long as there is China, we will be here.

“It is good for a country to have the exposure.”

Ecclestone did express concern, however, that the event has failed to attract the backing of local companies.

“At the moment most countries in the world are concerned about the commercial recession,” he added.

“It is disappointing that it is not supported by local companies. I think they are missing an awful lot.

“In China nobody cares about brand names, and it is a good opportunity to get your brand out there.”

With races already in Malaysia, Japan and Singapore, plus additional events set to be added in South Korea and India, Ecclestone believes the future of Formula One lies in Asia.

“When I said I was going to bring Formula One to Asia everyone said I was mad,” he continued.

“Asia is growing while lots of parts of the world are dying. That is the difference.”