Malaysia announces new F1 race deal

Mar.29 (GMM) Malaysia will continue to host a grand prix for at least the next three years.

As the chequered flag waved on Sepang's seventeenth F1 race on Sunday, the office of the Malaysian prime minister Najib Razak issued a media statement.

It said Sepang has extended its race deal "for another three years until 2018".

Earlier, the track and Bernie Ecclestone were negotiating about the race fee.

"The contract for the extension was signed today following the successful negotiations between Sepang (circuit) and Formula One Management," read the statement.