Bernie Ecclestone appeared to have changed his mind on 2017 being the last year that Singapore will host the Formula 1 Grand Prix, the Straits Times reported.
In an interview with the Singapore broadsheet published Tuesday, Ecclestone said he was hopeful that negotiations between Singapore Grand Prix and the Formula 1 body would continue.
"F1's stand is to hopefully continue in Singapore. Everybody is happy to be in Singapore and (we) don't want to lose Singapore," he told the newspaper.
Ecclestone's comments come after he reportedly told Germany's Auto Motor Und Sport on Sunday that the city-state would not extend a deal to host the motorsports race that is due to expire after the 2017 race.
He told the German outlet there was "little gratitude" in the Formula 1 realm, with organizers leaving the franchise once they've reaped its rewards, adding that the city-state was known as little more than an air-transit hub before hosting the F1.
When asked by the Straits Times on those comments, Ecclestone said that he had been misinterpreted. "My words were taken in a funny way. What I said was simple - no decision has been taken yet," he said.
To read the full Straits Times report, click here.
Singapore GP told CNBC on Monday that it did not comment on ongoing commercial negotiations.