F1 to stay in Singapore through 2017

Published Sep. 22, 2012 1:00 a.m. ET

foxsports

The Singapore Grand Prix will stay on the Formula One calendar through 2017 after an agreement was struck between the national government and F1 boss Bernie Ecclestone.

The two parties made a joint announcement Saturday, after long negotiations over the price of the hosting rights for a race that has quickly established itself as one of the most popular stops with fans and teams alike.

Ecclestone said ''we are all here for another five years'', adding ''all of us like being here, which made it difficult for me to negotiate with the minister.''