Bernie Ecclestone says Singapore won't extend its deal to host the Formula 1 when the deal runs out in 2017, according to an interview the motorsports billionaire did with a German publication.
Motorsport.com wrote that Ecclestone told Germany's Auto Motor Und Sport on Sunday that "there is no gratitude" in Formula 1, referring to auto-makers and organisers who he said dropped the franchise once it had served its purpose.
"Look at what we have done for Singapore," Ecclestone said, according to Motorsport.com's translation of the German-language report. "Yes, the Grand Prix has cost Singapore a lot of money, but we've also given them a lot of money."
"Singapore was suddenly more than just an airport to fly to or from somewhere. Now they believe they have reached their goal and they do not want a grand prix anymore."
Formula 1's controlling shareholder CVC sold the auto-racing franchise's parent company to Liberty Media in September in a deal worth $4.4 billion, but Ecclestone retained his role as chief executive officer.
Singapore held its first Formula 1 Grand Prix in 2008, which at the time was the largest sports event the city-state had ever hosted, and the first F1 race to be held at night.
But The Straits Times newspaper reported on Sunday that there had been speculation Singapore Grand Prix, which is responsible for the race in Singapore, may not renew its current contract to host the event when the contract runs out after the 2017 race.
A Singapore Grand Prix spokesperson told CNBC the business did not comment on ongoing commercial negotiations.