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The Singapore Grand Prix joined the Formula One
calendar in 2008 as the sport's first night race. Sunday's
edition, the country's 10th, is set to be the last under the
current deal.
"We haven't concluded a deal yet but we're having positive
discussions and it is certainly our goal to try and reach a deal
that works for both of us," Carey told reporters at the All That
Matters industry conference in downtown Singapore.
"We're proud of the race, we have a good relationship and our
goal is to get to a place where we build on that partnership
long-term," Carey, who replaced Bernie Ecclestone as the sport's
CEO in January, said in a keynote address at the conference.
Crowds, which topped 100,000 on all three days in the first
year, in Singapore have declined, with last year's race
averaging 73,000 spectators for each day, down from 87,000 in
2015.
But the race, which takes place on a floodlit street circuit
that winds its way through the heart of Singapore against a
backdrop of glittering skyscrapers, remains one of the most
popular and glamorous on the 20-round calendar.
The race, along with China, is provisionally part of next
season's 21-round schedule but is marked by an asterisk as
subject to confirmation by the sport's commercial rights holder.
Malaysia also hosts a grand prix but next month's race at Sepang
will be its last.
"It is certainly a spectacular setting with the city lit up,
racing through the streets, a race we are proud of," said Carey
for whom last year's Singapore round was the first race he
attended, only days after Liberty Media agreed its purchase of
Formula One.
"In many ways it's a race that anchors our Asian strategy. Still
early days for us growing in Asia. But certainly a signature
race for Asia, a signature race for us globally and it's great
to be here."
Singapore's Ministry of Trade and Industry confirmed the
negotiations were continuing.
"We are in discussion with Formula One on the term renewal for
F1 and are carefully considering several issues. More details
will be shared when ready," a spokesperson said.
(Reporting by Abhishek Takle; additional reporting by Aradhana
Aravindan; editing by Sudipto Ganguly)
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